Chainlink Weekly Chart Signals Potential Rally if $30 is Reclaimed
Chainlink (LINK) experienced significant price fluctuations recently, dropping 12% before recovering 13% within 24 hours. This volatility has heightened investor optimism regarding potential gains.
- Analyst Jelle noted the weekly chart is showing signs of strength, indicating a possible substantial move if key levels are reclaimed.
- Upcoming days are critical; a breakout above current resistance could lead to multi-year highs, while failure to maintain gains may result in consolidation.
- LINK has seen a 42% decline since mid-December but indications suggest it may have reached a bottom.
- The first key target for LINK is $30, with expectations of new all-time highs if momentum continues.
Currently trading at $20, LINK briefly dipped to $17 but quickly recovered. A successful break above $22 could propel LINK towards the $25 resistance level.
- Maintaining momentum is essential to avoid bearish territory.
- A decisive breakout above $25 could initiate a strong bullish trend.
