- Chainlink (LINK) is re-accumulating at $14.8, signaling a potential breakout.
- LINK’s re-accumulation phase hints at a major move, with targets at $26.5 and $33.
- Strong fundamentals and adoption drive LINK’s bullish outlook, eyeing a breakout.
Chainlink (LINK) is showing promising signs of a potential breakout. According to the post below, LINK is currently re-accumulating along a key resistance zone at $14.8 on the daily chart.
LINK’s Imminent Breakout
The current setup indicates that LINK is poised for significant upward movement. According to analysts, breaking above this zone could trigger a substantial rally.
The key resistance zone at $14.8 has been a critical level for LINK. The Whale Crypto Trading suggests that profit targets are $26.5 and the second at $33.
The re-accumulation phase is where investors consolidate their positions, preparing for the next big move. This phase often precedes a breakout, as seen in previous market cycles.
The anticipation of a breakout is fueled by the strong fundamentals and growing adoption of Chainlink’s technology.
Chainlink is a decentralized oracle network that enables smart contracts to securely interact with real-world data. This unique functionality has positioned Chainlink as a vital component in the blockchain ecosystem, driving its demand and value.
Read CRYPTONEWSLAND on
google news
Technical Analysis Supports LINK’s Bullish Outlook
The daily chart shows a clear pattern of higher lows, indicating strong buying interest at lower levels. The resistance at $14.8 has been tested multiple times, and each test strengthens the likelihood of a breakout.
Investors are closely watching LINK’s price action, as a breakout above $14.8 could lead to a rapid ascent towards the profit targets. The first target of $26.5 represents a significant gain from the current levels, while the second target of $33 suggests even greater upside potential.
Meanwhile, LINK is trading at $14.3 and its trading volume in the last 24 hours is $417.8M. The daily and weekly price gains of Chainlink are 4.13% and 1.83%.
Read Also
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
