Lokesh Gupta
11-03-2024
Chainlink bulls have successfully overcome significant hurdles at $18.50, signaling recent bullish momentum.
Establishing a base above $16.75, #Chainlink ($LINK) initiated a fresh uptrend in its price.
Currently, $LINK's price has surged by over 7.00%, trading above the crucial $20.00 resistance level.
If the ongoing bullish trend persists, #Chainlink could potentially aim for the $25.00 resistance level next.
Detailed analysis of the daily timeframe chart reveals the formation of a bullish cup and handle pattern amidst the recent recovery phase.
On February 2nd, Chainlink's price broke out bullishly from the pattern's neckline resistance, marking the end of a nearly 2-year sideways trend.
Following this breakout, Chainlink experienced a notable rally, reaching price levels not witnessed since early 2022.
Traders closely watch the $23.00 resistance level; a breakthrough could fuel gains, targeting $25.00.
Market caution persists if $23.00 resistance isn't breached; a failure may lead to correction. Support at $20.00 offers entry opportunities for buyers.
As per Coingabbar analysis, #Chainlink price prediction 2030 stands at $60, while Chainlink #price prediction 2040 indicating a potential surpassing of $150.
KEY LEVELS :
RESISTANCE LEVEL : $24.00-$29.00
SUPPORT LEVEL : $17.00-$13.50
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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