Many analysts have had a positive outlook on LINK’s price, and the price has also been pumping since two days ago, surging more than 25% this week alone.
Johnny: Breakout Could Lead to Massive LINK Pump
According to Johnny (@CryptoGodJohn), Chainlink is attempting to break out of a 520+ day trading range. He notes that a Chainlink breakout here could lead to a “massive pump.”
The price has been consolidating since May 2022 and it is looking ready to finally breakout. Looking at the more than a year long range, a close above $9.5 can lead to a massive pump.
Crypto Yapper: LINK is Absolutely Pumping
Crypto Yapper (@CryptoYapper) also sees signs of bullish momentum, stating that Chainlink is absolutely pumping and breaking out. He believes this could mark the start of a bull market for LINK, which has already gained over 20% this week.
If the breakout doesn’t occur, LINK may be moving back to the bottom of the consolidation at around $5. But if LINK can close decisively above $9.5, analysts believe it could be the start of a major bull run.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
