đ As $LINK breaks $10.6, could $16.8 be next? Analysts weigh in! - AMB Crypto
đ Chainlink Breaks Key Resistance
Chainlink (LINK) recently broke through the $10.6 resistance level, achieving an 18.58% ROI. This strong momentum suggests potential for further gains, though challenges from a mid-term downtrend remain. Watch for resistance at $13.1 and $16.8.
đ Weekly Outlook
LINK/BTC has shown resilience, aiming for the $12 level. A break above 2100 sats could propel LINK to 4400 sats. Weekly liquidity sweeps support this bullish potential, with a divergence between price action and RSI hinting at a new bull run.
đź Altseason Anticipation
The altcoin market is mirroring patterns from 2017 and 2021, suggesting an upcoming altseason. This consolidation phase often precedes significant rallies, which could benefit LINK and other altcoins.
đ Historical Correlation
Chainlink shows strong correlations with Bitcoin, Ethereum, Dogecoin, and Shiba Inu. With expected rate cuts by the Federal Reserve, a weaker USD could boost LINK's price, aligning with its positive outlook.
