Bullish Trend Drives Chainlink's Growth Momentum
The price of Chainlink (LINK) is gaining significant upward momentum, fueled by a rising triangle pattern, which signals further potential growth. Analysts remain optimistic about its future, predicting additional gains during the holiday season. The market anticipates that if the current trend continues, LINK could approach a new all-time high.
Key Support Level: $26.8
Crypto analyst Ali shared on platform X (formerly Twitter) a potential buying signal for Chainlink, based on the TD Sequential indicator. This signal, visible on the 4-hour chart, suggests a possible rebound if LINK holds above the critical support level of $26.8.
Ali further noted that if the price stays above this threshold, it could rise to $28.5, with additional potential to reach $30.2, provided the bullish trend strengthens. This signal reflects growing optimism for short-term growth.
Significant Price Growth in the Past Month
In the last month, the price of LINK has surged by 90%, with a 15% increase in the past week alone, confirming a bullish trend. The broader cryptocurrency market has also seen rapid growth, creating room for further gains.
At the time of writing, LINK is trading at $27.12, a 4% decline over the past 24 hours. Despite this, its price has stabilized at $26.85, indicating that 96.66% of LINK holders are in profit, while only 0.53% of holders are in loss.
Technical Indicators Suggest Further Growth
A cryptocurrency expert predicted that Chainlink will be one of the top-performing altcoins by 2025. The LINK/BTC pair is showing signs of breaking out from a long-term downtrend that lasted over 1,590 days.
This technical breakout could signal the beginning of a significant bull run. Analysts also highlight increasing institutional interest, with speculation that former U.S. President Donald Trump may be accumulating LINK.
Potential Gains by Year-End
Strong technical indicators and bullish momentum suggest that Chainlink has the potential for significant gains this holiday season. If it holds key support levels, analysts predict the price could rise to $30, fueling investor optimism about the asset's future prospects.
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