According to crypto analyst World of Charts, Chainlink shows strong signs of its next bullish impulse wave readying to ignite after consolidating in a bull flag pattern for several weeks now.
With LINK approaching trendline resistance, he anticipates an upside breakout with initial sights on $25 before continuation towards $28 materializes over the coming weeks.
Fellow trader Captain Faibik echoes this perspective on a rally brewing for LINK amidst its constructive pullback and basing activity.
Additional technical analysis
Crypto insights platform altFINS further endorses the optimistic setup in its latest update:
- Maintained position within the long-term price uptrend
- Bullish momentum signals are re-emerging after a pullback to $11.80.
- Next target is $17 en route to the psychological $20 level.
With key indicators like the MACD line crossing above the signal line in bullish fashion, altFINS sees minimal resistance to $17 where conviction would grow around attacking $20 and beyond—in line with original upside projections.
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Show more +Given Chainlink’s entrenched position providing irreplaceable oracle infrastructure and data availability for blockchain applications, the return to an unequivocal bullish trend aligns with its sustainable role as a category leader.
With altcoins accelerating, traders can deploy bullish-biased LINK strategies on recurring pullbacks before an eventual breakout sustains and overextends towards reclaiming its all-time highs.
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