A popular crypto analyst known as Ali on X is calling attention to a promising technical pattern emerging on the charts for Chainlink (LINK). According to Ali’s latest analysis, the TD Sequential indicator is flashing a buy signal on LINK’s 12-hour chart.
The TD Sequential is a market timing tool that attempts to identify price momentum using advancing and declining momentum indicators. When the indicator presents a specific bullish or bearish countdown pattern, it can signal an impending trend reversal.
In Ali’s view, if Chainlink manages to hold above the $13.87 support level, the token could be gearing up for a strong rebound towards $15.50. Ali shared this analysis in a recent tweet, stating:
“The TD Sequential is flashing a buy signal on the #Chainlink 12-hour chart! If $LINK stays above the $13.87 support, we could see a strong rebound to $15.50.”
Chainlink is a decentralized oracle network that aims to connect smart contracts on the blockchain with real-world data. LINK is the cryptocurrency token used to pay Node Operators for retrieving data for smart contracts.
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Show more +At the time of writing, LINK is trading at around $13.95, down nearly 5% over the past 7 days according to data from CoinMarketCap. The token has a market capitalization of over $8 billion, making it the 16th largest cryptocurrency by that metric.
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