📈 Chainlink Chain Reaction: Analyst Sets Sights On $33 Target

Chainlink (LINK), the oracle network powering decentralized applications (dApps), has been making waves in the crypto market. After a successful surge, the digital asset is now setting its sights on even higher ground, with analysts predicting a bullish run and price targets as high as $33.

At the time of writing, LINK was trading at $16.27, down 6.4% and 11.0% in the daily and weekly timeframes, data from Coingecko shows.

🔸 Support Levels And Re-accumulation Signal Bullish Trend

LINK’s recent price action has analysts excited. The token decisively broke through a key resistance level on the daily timeframe, a bullish indicator suggesting buyers are in control. Even more promising, the price then revisited this level, not as resistance, but as a new support zone. This “flip” from resistance to support strengthens the uptrend’s validity.

Adding fuel to the fire, LINK’s price has grown a healthy 25% in the last month. This significant gain reflects growing investor confidence in Chainlink’s potential. The overall sentiment surrounding the project seems to be shifting towards optimism.

$LINK Ready for a Retest!#LINK broke the resistance on the Daily timeframe and is probably going to retest it as support.

This would be considered bullish if the support holds.

Perfect and Healthy Price Action for #Chainlink — Crypto Yapper

🔸 Analyst Sees LINK Soaring

Market sentinels are taking notice of LINK’s bullish momentum. Crypto Yapper, a popular analyst in the crypto space, believes a retest of the new support level is imminent. If the price holds firm at this point, it would be a strong confirmation of the ongoing uptrend. Yapper emphasizes the importance of this potential support in establishing a positive long-term outlook for LINK.