Chainlink Price Prediction ($LINK) Ready to Fly with 35% Upside Target.webp

Bittime - Price prediction Chainlink ($LINK), ready to fly with a target increase of 35%? The current crypto market is full of high volatility, making price movements difficult to predict.

However, amidst this uncertainty, Chainlink (LINK) managed to show a promising bullish pattern on its daily chart.

With the support of technical analysis and on-chain metrics, this altcoin is expected to experience an increase of up to 35%, reaching the target of $19 in the near future.

The following is a presentation of Chanakya's analysis from AMBCrypto.

Chainlink (LINK) Price Prediction Technical Analysis

Chainlink is currently in a pattern ascending triangle, one of the bullish formations that is often followed by significant price increases. Based on the latest technical evaluation:

Retest at Breakout Level

LINK has successfully retested the breakout level of the ascending triangle pattern, which is a strong signal for upward movement.

Position Above the 200 Day EMA

On the daily timeframe, LINK is trading above 200-day Exponential Moving Average (EMA), which indicates a long-term bullish trend.

Relative Strength Index (RSI)

LINK's RSI indicator shows positive momentum, which strengthens the prediction of a price increase in the coming days.

Read too 1 LINK to IDR

Indicator	Current Level	Signal
Breakout Resistance	$14.40	Bullish Potential
200 Day EMA	On	Uptrend
RSI	Bullish	Strong Momentum

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Support from On-Chain Metrics

Apart from technical signals, several on-chain indicators also reinforce the bullish outlook for LINK. Here are the important points:

Increase in Open Interest (OI)

Based on data from Coinglass, LINK's Open Interest (OI) increased by 9.5% in the last 24 hours. This increase reflects the growing interest of traders and the increasing number of open positions.

Chainlink Price Key Liquidation Levels ($LINK)

Lower Level: $13.55 – If the price falls to this level, it is estimated that approximately $5.10 million of long positions will be liquidated.

Upper Level: $14.40 – If the price reaches this level, approximately $2.44 million of short positions will be liquidated.

This increase in OI and liquidation levels shows that the market is dominated by bullish sentiment. This provides a great opportunity for LINK to achieve its price increase target.

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Chainlink Price Target: Poised Towards $19

Based on historical analysis and price movement patterns, LINK is expected to experience an increase of 35%, with a price target of $19. This prediction is based on the following factors:

Positive Market Sentiment: Support of on-chain metrics and technical trends.

Increased Trading Volume: A strong indicator that traders are becoming more active on LINK.

Breakout Potential: An ascending triangle pattern that is successfully penetrated is usually followed by a significant rally.

Price Targets	Potential Increase
$19	35%

Trading Strategy for LINK

To maximize profit potential, the following strategies can be considered by traders:

Entry Price: Consider entering at $13.55 level if there is a temporary retrace.

Target Profit (TP):

TP1: $14.40

TP2: $19

Stop Loss (SL): Set SL below $13 to minimize risk.

Conclusion: Is It Time to Invest in Chainlink (LINK)?

With positive technical indicators and support from on-chain metrics, Chainlink is in a promising position to record gains of up to 35%.

If market sentiment remains favorable, the $19 price target could be achieved in the coming days or weeks.

However, investors need to pay attention to market volatility and use good risk management.

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Chainlink Price Prediction ($LINK): Ready to Fly with 35% Upside Target?