Tuesday, July 22, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Chainlink Eyes Potential Breakout, LINK Could Hit $20

Simon Osuji by Simon Osuji
February 1, 2024
in Business
0
Chainlink Eyes Potential Breakout, LINK Could Hit $20
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Chainlink (LINK), one of the most widely used decentralized oracle networks, has established a remarkably bullish setup that could propel prices as high as $20, according to a recent analysis.

Despite the broader market weakness, LINK has rallied 16% over the last six sessions while continuing to print successive highs and lows. Now, with LINK appearing to have hit a tipping point, analysts weigh the evidence suggesting a major breakout could be imminent.

Coinpedia points to the formation of an ascending channel pattern on LINK’s daily price chart that typically precedes powerful upside moves upon breakout. This indicates substantial pent-up buying momentum could soon be unleashed from LINK’s multi-week consolidation between roughly $11 support and $15 resistance.

Also read: Cryptocurrency: 5 Coins To Watch in February 2024 To Generate Profits

Can LINK surge to $20?

Breakout confidence stems from strong trading volumes backing LINK’s recent advance. Volume often precedes price, serving as a barometer of investor interest. With demand on the rise as LINK challenges resistance, the stage looks set for an upside resolution of the channel.

A decisive breakout could spark a rally toward the next ceiling of around $20 based on the measured move method used in technical analysis.

Beyond the bullish technical alignment, Chainlink continues to gain traction across numerous fundamental metrics. The project expanded integrations with leading platforms like Protocol Labs while drawing high-profile buyers. These include a whale scooping nearly $8 million worth of LINK tokens earlier this month.

Also read: XRP: 3 Key Warning Signs For Investors

Such strong adoption and accumulation by institutional players foreshadow further valuation upside. This is especially given Chainlink’s leading position as the oracle network of choice for powering real-world data feeds across nearly 1,000 decentralized applications.

Based on its entrenched positioning along with strengthening on-chain and developmental activity, analysts predict LINK’s price could double from current levels of around $16 to $100 within the next three years.

Of course, technical failures remain possible if LINK stumbles at resistance again. In that scenario, some retracement towards the lower $14.50 range could materialize before bulls gear up for another breakout attempt. 

Source link

Related posts

Turkey Warns Tinubu Government Over Presence of CIA-Backed FETO Terror Network in Nigeria

Turkey Warns Tinubu Government Over Presence of CIA-Backed FETO Terror Network in Nigeria

July 22, 2025
Zambia receives 31 electric-powered trucks from China for major copper mining project

Zambia receives 31 electric-powered trucks from China for major copper mining project

July 22, 2025
Previous Post

Failure of Printing Machines Cause of Passport Delays-Kenya Govt

Next Post

Digital watermarks combined with AI will speed up copyright infringement cases, study says

Next Post
Digital watermarks combined with AI will speed up copyright infringement cases, study says

Digital watermarks combined with AI will speed up copyright infringement cases, study says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Apple’s Next iPhone SE Is Around the Corner

Apple’s Next iPhone SE Is Around the Corner

5 months ago
Beyond 3D: Tech companies partner on drone-powered ‘extended reality’ to reduce plane maintenance times

Beyond 3D: Tech companies partner on drone-powered ‘extended reality’ to reduce plane maintenance times

3 months ago
As politicians look away, we need artists like Steve McQueen more than ever

As politicians look away, we need artists like Steve McQueen more than ever

2 years ago
UN Warns of Mounting Crises as Humanitarian Demand Surges

UN Warns of Mounting Crises as Humanitarian Demand Surges

8 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.