Chainlink Price Reaches $30 For First Time in Over Two Years
The Chainlink price has shown significant movement recently, aligning with broader trends in the cryptocurrency market. While the market has cooled off somewhat, LINK continues to perform well, nearing the $30 mark for the first time in over two years.
Potential for Price Increase to $34
Analyst Ali Martinez on the platform X forecasts a bullish breakout for Chainlink, suggesting that its current price pattern indicates potential upward movement. This analysis is based on an ascending triangle pattern observed on the 1-hour LINK price chart.
The ascending triangle, characterized by a horizontal line connecting swing highs and a rising trendline along swing lows, typically signals continuation patterns. A breakout above the horizontal line is most likely, although a breach of the trendline could occur as well.
If LINK breaks the upper horizontal line, an hourly candlestick must close above $30.4 for it to be deemed successful. Martinez predicts that such a move could see the price rise to $34 within days, representing a 15% increase from current levels.
Current LINK Price Overview
Currently, Chainlink (LINK) is valued at approximately $29.25, marking a nearly 5% increase in the last 24 hours. Over the past week, LINK has gained over 17% in value.
Data from CoinGecko indicates that LINK's price has surged more than 120% in the past 30 days, positioning it as the 13th-largest cryptocurrency with a market capitalization exceeding $18.3 billion.
