Crypto Analyst Predicts 38% Surge in Chainlink Price Upon Breaching Key Resistance
Crypto analyst and trader Ali Martinez anticipates a potential uptrend for Chainlink (LINK).
Martinez, sharing insights with 42,400 followers on X. Suggests that Chainlink could breach a significant resistance level, surging to $26.87. Highlighting the hurdle between $19.40 and $20.03, where over 8.59 million LINK is held by 5,330 addresses, Martinez emphasizes the potential for a 38% price increase upon breaking through. Utilizing the In/Out of the Money Around Price (IOMAP) metric to identify support and resistance levels, Martinez’s analysis suggests a bullish sentiment. Additionally, other traders echo optimism for Chainlink’s future.
Pseudonymous analyst Rekt Capital notes an uptrend, anticipating possible dips for retesting support before further upward movement. Meanwhile, Inmortal predicts a remarkable 443% surge in Chainlink’s value this cycle, based on extensive analysis and past performance. With Chainlink currently trading at $18.40, down over 3% in the last 24 hours, these insights provide a glimpse into the potential trajectory of the cryptocurrency.
Clever Robot News Desk 8th February 2024
