LINK’s price movement has caught traders’ eyes lately as it moves toward a potential record high. Analyst Mihir thinks LINK will hit a monthly peak soon, with more room to grow. Looking at the charts, several technical indicators support this upward trend.
The chart indicates a strong upward trajectory for LINK’s price, particularly from early November to December, when the cryptocurrency exhibited bullish momentum. The price is currently trading around the $23-$24 range after a brief corrective phase in mid-December.
Moreover, the trend shows a series of higher highs and higher lows, a classic bullish pattern. The pullback in late December appears to have found support at the $22 level, marking it as a critical price zone where buying pressure has been observed. This recovery at support reflects market confidence in LINK’s price upward potential.
Image Source: X/Mihir Key Support Levels and Technical Indicators
A support zone at $22 is explicitly highlighted on the chart. This level has been tested during recent pullbacks, confirming its relevance as a foundation for potential upward moves. Additionally, an upward projection is marked on the chart with a green arrow, suggesting a potential breakout beyond the current trading range.
Candlestick patterns indicate consolidation following the corrective phase. Such formations often signal accumulation, where traders are positioning for the next potential rally. While volume data isn’t shown, the sharp upward price movements in the chart imply strong buying interest, aligning with the analyst’s prediction of a bullish continuation.
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Mihir’s Tweet and Its Alignment With the Analysis
Mihir’s tweet emphasizes confidence in LINK’s ability to achieve a monthly high and move toward a new ATH. This aligns with the technical analysis, which highlights strong support at $22 and a bullish price structure. The chart’s projection arrow and marked price levels further reinforce the claim.
While LINK’s price shows strong bullish potential, traders should remain vigilant. The technical indicators and analyst predictions suggest a promising outlook, but factors such as market conditions and resistance levels near previous highs could influence future movements. Monitoring the $22 support level and any breakout momentum will be essential for evaluating LINK’s trajectory toward a new ATH.
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