📈 Chainlink Faces Resistance After Breakout
LINK is trading at $14.71, down 2.1% in the last 24 hours, after hitting an intra-day high of $15.15 but facing rejection. Despite the pullback, a historical pattern hints at a potential 167% rally, possibly pushing LINK to $35 in the coming days.
📊 Historic Pattern Suggests Rally
In the previous cycle, LINK soared to $53 before the bear market. After consolidating near $3.66 for over a year, it rallied 167% in late 2023. Over the past 8 months, LINK has mirrored this pattern, breaking out of consolidation on November 4. If history repeats, LINK could surge to $35.
🚀 Bullish Signals and Key Levels
LINK is struggling below the $15.35 resistance, which has been tested twice. Further hurdles are at $16.73 and $18.50, while support lies at $13.40, with a potential drop to $10-$13 if breached. RSI at 56.20 indicates rising buying pressure, and surpassing the 57 level could trigger a breakout.
📉 Volume Decline and Market Activity
Trading volume is down 28% in the last 24 hours, suggesting reduced market activity. The $15.35 resistance serves as a profit-taking zone, causing temporary pullbacks.
🌟 Can LINK Reach $40?
A rally to $40 is realistic, given LINK’s past highs and strong demand. The total value enabled rose to $17B in November, up from $16B in October, signaling growing interest in LINK. Historical patterns and increased demand suggest $40—and even $100—could be achievable.
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