Chainlink Price Analysis: With A Fresh Start, LINK Price Are Aiming At $9.80
The post Chainlink Price Analysis: With A Fresh Start, LINK Price Are Aiming At $9.80 appeared first on Coinpedia Fintech News
Following the recent rise with the CCIP release on Chainlink, the Matrixdock partnership with the Chainlink PoR stirs up new momentum. LINK prices shoot by 8.75% from a support trendline and project a bullish pattern uprising.
The uptrend in the LINK prices maintains the strength but the selling pressure above $8 remains unbeatable for now.
Bouncing from the support trendline, LINK prices shoot 8.75% to create a rounding bottom pattern with a neckline at $8. As per the Fibonacci retracement, the ongoing uptrend shows potential to reach the $9.80 mark with the $8.37 breakout.
Also Read : Chainlink Price Prediction: 2023, 2024, 2025, 2026 – 2030
The improving sentiment with the partnership with Matrixdock gives a solid boost to the LINK prices. This can fuel the prices for the rounding bottom breakout to start a chain bullish reaction.
Coming to the volumes, the uptrend finds a growing number of trades projecting a potential rise in the number of investors hoarding up more.
The RSI indicator approaches the oversold boundary projecting a potential breather shortly. Similarly, the DMI indicator shows the VI lines maintaining a positive trend with a notable in the ADX line.
Therefore, the Chainlink price can sustain above $8 and achieve $8.37 breakout, LINK can shoot up to $9.80.
On the flip side, a rejection above $8 can danger the integrity of the support trendline. Chainlink prices can test the $7.5 mark.
