Chainlink (LINK) Poised for Upside Momentum, Analyst Highlights When to Expect A Big Wick Down

Chainlink (LINK) is discovering key technical support just below the $13 mark after rallying as much as 110% from August lows. According to analysis from trader David, LINK is now consolidating in a constructive manner to gear up for its next leg higher:

“Opportunities coming for every Altcoin in the next weeks/months, last chance for sideliners to get in & for you to add more to your bags. Big wick down in March is likely for Chainlink”

David anticipates continued upside opportunities across altcoins, with Chainlink likely seeing volatility but with a remaining medium-term uptrend. This aligns with the analysis, which highlights an emerging sideways channel between $13 and $17 resistance.

A breakout above $17 would confirm upside resumption, with initial targets at the psychologically key $20 level. In the meantime, traders can capitalize on rangebound conditions by buying near-channel support around $13 and booking profits on rallies towards $17 resistance.

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The consortium-based Oracle network stands as a prime beneficiary of accelerating adoption trends around tokenizing real-world assets. Its unique cross-chain data bridging capabilities power Web3’s evolution beyond purely crypto-native building blocks. And as influential figures like Larry Fink trumpet digitizing traditional equities and assets, Chainlink adoption should continue to rise.

In summary, while a capitulatory “wick down” remains possible in March, Chainlink’s strong technical and fundamental backdrop bodes well for upside continuation as blockchain integration expands. The coming sessions may see volatile swings around its $13–$17 channel, but the path of least resistance trends positive pending key breakout confirmation.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.