Chainlink (LINK) price is emerging as one of the biggest gainers among the top 20 cryptocurrencies in the past 24 hours, despite showing mixed signals in its technical indicators.
Chainlink whales are not accumulating LINK
Chainlink over the past two weeks has been pointing to a possible shift in sentiment.
LINK price in the short term.
BBTrend Link at Lowest Level in Weeks
Chainlink has fallen significantly, falling from its peak of 18.2 on November 26 to 0.44 currently while maintaining the positive zone since November 25.
A potential shift into the negative BBTrend zone may indicate a trend reversal and increased selling pressure for LINK.
When BBTrend turns negative, it usually indicates price action below the middle Bollinger band, indicating bearish momentum that could lead to further downward movement in LINK price.
LINK Price Prediction: Potential New 42% Rise
LINK’s recent attempt to break through $22, a level not seen since 2022, suggests a major bullish move is possible.
If it succeeds in its next attempt, the cryptocurrency could target $25 before advancing towards $30, which would represent its highest value since 2021 and translate into a massive price growth of 42% from current levels.
Conversely, failure to maintain upward momentum may lead to a downward correction.
In this scenario, LINK price may test the initial support at $16.18, with the possibility of falling further to $13.8 if this support level fails to hold.