bullish

Chainlink

Coin

<p>Over the past 24 hours, Chainlink (LINK) rallied over 10% to $15.18 as analysts got more optimistic. Predictions for the token are being set at $18. </p> 
<p>Chainlink’s market cap as of press time was $9.51 Billion, having increased by 11.4% intraday. The token’s 24-hour trading volume had also risen to $988.81 Million, up 53.56%.</p> 
<h2 class="wp-block-heading" id="h-breakout-from-critical-levels">Breakout from Critical Levels</h2> 
<p><a href="https://www.thecoinrepublic.com/2024/11/15/chainlink-whales-accumulating-rally-ahead/">Chainlink</a> just broke out of a long-standing resistance of around $13. Michael Van de Poppe, the founder of MN Trading Ventures, states that this now flipped to a strong support level for this zone, which had acted as a cap for most of 2024. </p> 
<p>According to him, this is a crucial breakout because it indicates market sentiment shifting yet again, and possibly towards higher levels.</p> 
<p>Poppe points out that a massive flip in $LINK could occur at $13. He predicts an ascent to $18 and expects more momentum from there. </p> 
<p>He states that the low on $LINK is in serving a tremendous opportunity. His analysis falls in line with LINK’s current technical setup. </p> 
<p>LINK is headed for the $17.83 resistance level and eventually the psychological indicator of $18.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/cryptomichnl/status/1858593519096738030?s=46 
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<p>Looking at further insights from experts, Crypto Patel predicts a good move for <a href="https://www.thecoinrepublic.com/2024/11/18/chainlink-whale-activity-hits-high-analysts-eye-100-link/">Chainlink (LINK)</a>, which has fallen 90% from its all-time high. </p> 
<p>He highlights that it continued rising after forming a bottom around $5. It then hit internal range liquidity (IRL) and bounced back, showing a readiness for a positive move.</p> 
<p>As per the analyst, LINK has a chance to hit its all-time high and could be a 280% upside from where it stands today. But a candle close below $8 would nullify this outlook.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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   https://twitter.com/CryptoPatel/status/1856009066298184059 
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</figure> 
<h2 class="wp-block-heading" id="h-technical-analysis-will-link-correct">Technical Analysis: Will Link Correct?</h2> 
<p><a href="https://www.thecoinrepublic.com/2024/11/10/chainlink-bounces-from-key-support-is-30-target-possible/">Chainlink’s</a> chart shows a well-defined rising wedge pattern, signaling a period of consolidation coming up after a strong upward move. This could also hint a bearish reversal.</p> 
<p>The converging trendlines of the wedge pattern indicate weakness in the bullish momentum toward the apex of the wedge, starting around $13.00. </p> 
<p>From there, it proceeds onto this current range of $15.12–$15.50 with higher highs and higher lows. Should the pattern be complete, a fall back to previous support levels won’t be surprising.</p> 
<div class="wp-block-image"> 
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  <img loading="lazy" decoding="async" width="1024" height="502" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-1024x502.png" alt="" class="wp-image-841013" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-1024x502.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-300x147.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-768x377.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-1536x754.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-150x74.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-696x341.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494-1068x524.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-494.png 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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   4-hour LINK/USDT chart | Source: TradingView
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<p>Conversely, the chart’s lower portion shows the volume oscillator getting lower, which is usual in a rising wedge. </p> 
<p>The volume collapse indicates low buying pressure, creating doubts about the possibility of a continuous bull trend.</p> 
<p>The wedge extends to $15.50, at which point immediate resistance lies. A breakout above this level, however, could mean bullish momentum to the next resistance at $17.83. </p> 
<p>The next target psychologically would be the level of $18.00 if breached. The key support levels are $14.80 and the lower boundary of the wedge is around $14.50. </p> 
<p>If prices break down below here, it could invalidate the current bullish trend, as prices may run back down towards $13.50-13.00.</p> 
<p>If LINK is pushed to $14.50 or even lower with heavy volume, it could lead to a retracement to $13.00 or even lower.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/20/chainlink-link-pumping-analysts-predict-surge-to-18/">Chainlink (LINK) Pumping, Analysts Predict Surge To $18</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Chainlink (LINK) Pumping, Analysts Predict Surge To $18

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