Chainlink Seems to Be Forming an Ascending Triangle, Analyst Says This Move Can Push LINK To This Level
Chainlink (LINK) has been a standout performer, witnessing a remarkable 263% surge from its June low of $4+. Currently hovering around the $14 mark, LINK faces notable resistance, reflecting the intense activity in this price range.
A keen observation of the weekly charts reveals a compelling pattern: the formation of a bullish ascending triangle seen by crypto trader David.
Despite the ongoing market fluctuations, this pattern suggests a potential breakout that could propel LINK to $28 or even higher, in his opinion. Such technical formations often serve as bullish indicators, signaling upward price momentum.
Investors and enthusiasts are advised to filter out the short-term market noise and focus on the broader trend indicated by this ascending triangle. This strategic perspective becomes crucial when navigating the crypto landscape, allowing for a clearer assessment of the underlying bullish sentiment.
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Show more +In conclusion, the $16 resistance is a critical battleground for Chainlink, and the formation of the ascending triangle paints an optimistic picture. A successful breakout could usher in a new phase for LINK, setting the stage for a potential ascent to $28 or beyond.
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