{"id":569560,"date":"2024-01-15T09:30:04","date_gmt":"2024-01-15T09:30:04","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=569560"},"modified":"2024-06-11T11:14:42","modified_gmt":"2024-06-11T11:14:42","slug":"chainlink-rises-17-is-link-on-course-to-hit-20-this-week","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/chainlink\/chainlink-rises-17-is-link-on-course-to-hit-20-this-week\/","title":{"rendered":"Chainlink Rises 17% – Is LINK On Course To Hit $20 This Week?"},"content":{"rendered":"
Traders in the crypto realm are watching Chainlink (LINK) with bated breath as the price coils up near the $16 mark<\/a>, hinting at a possible break out towards $17, or even $20 given the right conditions this week.<\/p>\n Since November, LINK has been consolidating between $13.00 and $17.00, exhibiting classic market cycle behavior that presents prime opportunities for savvy traders.<\/p>\n Technical analysts are buzzing with potential bullish scenarios, with many pointing to the current price action as the telltale sign of an “accumulation phase.” As per the renowned Wyckoff method, this phase sees sellers exiting, prices stabilizing, and indecision ruling the market.<\/p>\n Following accumulation comes the much-anticipated “markup phase,” characterized by surging buying pressure, rapid price increases, and heightened activity.<\/p>\n And that’s precisely what the charts seem to be foreshadowing for LINK. Indicators like the Awesome Oscillator and MACD are flashing green<\/a> and pushing towards bullish territory, suggesting growing confidence and impending upward momentum.<\/p>\n The Relative Strength Index (RSI) also leans north, potentially primed to cross its signal line and add fuel to the bullish fire.<\/p>\n Further bolstering the optimistic outlook are the Simple Moving Averages (SMAs). Both the 100- and 200-day SMAs are pointing north, with the latter currently nestled comfortably at $9.994. This upward trajectory indicates the path of least resistance lies in ascending territory for LINK.<\/p>\n <\/p>\n Should buying pressure build steam above current levels, analysts predict a potential leapfrog over the 50-day SMA at $16.95, paving the way for a psychological $17 price point. In a highly bullish scenario, LINK could even tap into its full $20 potential, marking a 20% surge from its current position.<\/a><\/p>\nWill Chainlink Hit The Vaunted $20 Mark?<\/strong><\/h2>\n
Chainlink currently trading at $15.57682 on the daily chart: TradingView.com<\/a><\/pre>\n
Source: TradingView<\/pre>\n