Crypto analysts say that if LINK breaks this tight resistance level, a 38% Chainlink rally will begin.
Crypto analyst and trader Ali Martinez believes that Chainlink (LINK) could soon make another breakthrough.
Martinez told his 42,400 followers on social media platform
“Chainlink faces strong resistance between $19.40 and $20.03, where 5,330 addresses hold over 8.59 million LINK. However, if LINK can break through this supply wall, the next important resistance area is around $26.87, which represents a 38% price increase!”
Source: Ali Martinez/X
Trader Charts tracks LINK’s In/Out of the Money Around Price (IOMAP), an indicator that helps identify support and resistance levels for specific digital assets.
Other traders are also bullish on Chainlink.
Household analyst Rekt Capital believes that Chainlink is in an upward trend but could pull back to retest support levels before holding higher.
“Breakout confirmed. A drop to the upper end of the reaccumulation range (if that happens) will likely act as a retest attempt before the further trend continues.”
Source: Rekt Capital/X
Household analyst Inmortal predicts that Chainlink will surge more than 443% above its current value this cycle.
“After complex mathematical calculations and years of research, I came to the following conclusion.
1. LINK is extremely undervalued. (I’ve been saying this since it was $6 lol)
2. At some point in this cycle: One LINK = $100.”
Source: Immortal/X
Looking at the chart, traders suggest that LINK will continue to move higher and consolidate for a while before breaking out into the next zone.
Chainlink is trading at $18.40 at the time of this writing, down more than 3% in the last 24 hours.
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The post 38% Chainlink Rally Will Begin If LINK Breaks This Stiff Resistance Level, Crypto Analyst Says appeared first on The Daily Hodl.
