Chainlink Weekly Chart Looks Promising – If Bulls Reclaim $30 ‘ATH Are Next’

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Over the last few days, Chainlink’s price has exhibited some volatility, initially dropping by 12% and then swiftly recovering by 13% within just one day. This quick bounce-back has ignited enthusiasm among investors who consider this altcoin’s resilience as a promising indication of its potential for substantial growth in the coming short term.

Expert analyst Jelle recently provided an insightful assessment on asset X, remarking that its weekly chart is gradually transforming into an aesthetically pleasing “masterpiece.” This graph indicates increasing potency, implying that Chainlink might be ready for a significant surge if critical price thresholds are regained.

In the days ahead, it’s crucial for LINK that it faces and overcomes upcoming resistance areas. If it manages to break through these levels, it might trigger an impressive surge, possibly propelling Chainlink towards record highs seen in years. Conversely, if LINK fails to maintain its current gains, there could be more consolidation or even a dip to retest support zones.

With changing market feelings and aligned technical signals, Chainlink is sparking interest among both short-term traders and long-term investors. The scene seems favorable for a possible surge, and everyone’s eyes are on LINK to find out if it can leverage its momentum and bring about the anticipated rally that many are expecting.

Chainlink Prepares for a Rebound After 42% Correction

After experiencing a significant drop of more than 42% since mid-December, Chainlink (LINK) appears to be showing signs that its downward trend might be slowing. Some analysts are even suggesting that the bottom for LINK has been reached, implying possible positive price movements ahead due to the hints of bullish trends in the short term.

Expert analyst Jelle provided an extensive review on X, emphasizing that LINK’s weekly chart is gradually transforming into a genuine masterpiece. He underscored the importance of a challenging yet crucial retest of a vital support line, which LINK has successfully defended. This steadfastness is increasing trust among investors and traders that the hardest times for this altcoin might be behind us.

Jelle pinpoints the initial significant goal for LINK around the $30 mark, anticipating potential record-breaking peaks if the positive trend persists. However, for this scenario to unfold, LINK needs to regain important resistance levels, overcoming its daily downward trend and building a bullish formation.

Over the approaching period, Chainlink’s recovery hinges significantly on its performance. If LINK manages to sustain its current support and break through the temporary resistance barriers, it may initiate a surge that several investors are eagerly awaiting. However, should Chainlink fail to uphold these levels, there might be more consolidation or even another dip towards recent minimums. The market is keeping a keen eye as Chainlink strives to map out its next major progression.

Price Holds Strong: Key Levels To Watch

On this day, Chainlink (LINK) is being transacted at approximately $20, following a turbulent Monday. During the day, the price dipped to around $17 momentarily before quickly bouncing back within hours. This unexpected surge has sparked optimism among investors, who are now guessing that LINK might be preparing for its next significant leap.

It seems bulls are currently dominating, with the price approaching a potential break above $22. If this level is regained, it paves the way for an attempt to surpass the recent local high of $25 – a significant resistance point in LINK’s short-term price movements. Analysts predict that once these levels are converted into support, they could act as a catalyst for a substantial upswing, possibly propelling LINK towards higher prices.

Moving forward, it’s important for LINK to keep up its pace to prevent a return to the bear market. If it can’t surpass $22, there might be another phase of consolidation or even a revisit to lower resistance points.

Currently, everyone is watching Chainlink’s price movement closely, as it faces a crucial juncture. If there’s a clear surge above the $25 level, this might indicate the beginning of a robust uptrend, sparking renewed enthusiasm among investors and paving the way for more positive price movements.

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2025-01-14 21:58