{"id":556505,"date":"2023-10-22T10:38:40","date_gmt":"2023-10-22T10:38:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=556505"},"modified":"2024-06-11T09:56:01","modified_gmt":"2024-06-11T09:56:01","slug":"chainlink-link-price-hits-new-highs-with-22-surge-in-a-single-day","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/chainlink\/chainlink-link-price-hits-new-highs-with-22-surge-in-a-single-day\/","title":{"rendered":"Chainlink (LINK) Price Hits New Highs With 22% Surge In A Single Day"},"content":{"rendered":"

Following a week dominated by Bitcoin and its positive performance, Chainlink (LINK) has emerged as one of the best performers in the crypto market this weekend. This comes after a long period of relative silence and sideways movement for the token\u2019s price. The abrupt and significant surge in Chainlink price may have surprised many investors<\/a>, but it only further highlights the volatile nature of the crypto market.<\/span><\/p>\n

Chainlink Price Soars 22% In One Day – What’s Next?<\/strong><\/h2>\nAccording to data from CoinGecko<\/a>, the price of Chainlink is up by more than 22% in the last 24 hours. Over the past day, LINK\u2019s double-digit price explosion has seen the altcoin surpass the $9 mark, resulting in a multi-month high. LINK\u2019s performance appears to be even more notable on the weekly chart, with a nearly 30% increase in the last seven days.\u00a0<\/span><\/p>\n
Although Chainlink<\/a> maintains a substantial percentage of its gain, the token\u2019s price seems to be facing significant resistance at the $9.5 zone. This reflects the uncertain sentiment of investors who seem unsure whether the current rally is a fluke or a bullish hint. Nevertheless, a crypto analyst expects LINK to build on this positive momentum.<\/span><\/p>\n
Related Reading: Ethereum ICO Participant Wakes Up After 8 Years, Moves $3 Million In ETH<\/a><\/div>\n
In a post on X (formerly Twitter), crypto trader Mags noted that the Chainlink price has just broken out of a consolidation wedge spanning more than a year. The analyst postulates that a close above $8.2 on the weekly timeframe will see the LINK price<\/a> rise to $12.54. This represents a significant 30% projection from the current price point.<\/span><\/p>\n
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$LINK<\/a> broke out after 512 days of consolidating inside a wedge. <\/p>\n
A weekly close above $8.2 (most likely) we are heading straight to $12.54 and beyond \ud83d\ude80<\/p>\n
I don't think we will see any retest of the breakout point, expecting upside cotinuation in the next weekly candle \ud83e\udd1d https:\/\/t.co\/EJcj2XO0oJ<\/a> pic.twitter.com\/bXgRkcv6jG<\/a><\/p>\n
— Mags (@thescalpingpro) October 22, 2023<\/a><\/p><\/blockquote>\n