CandleFocus Chainlink (LINK) Double Breakout, Buy Signal or What?
2024-09-29
Author: Content Editor
The cryptocurrency Chainlink (LINK) has seen a breakout of bullish price action patterns, suggesting a potential rally. While other major cryptocurrencies like Bitcoin, Ethereum, and Solana are struggling, expert technical analysis and on-chain metrics indicate a positive outlook for LINK. If LINK can close above the $12.90 level, it could potentially increase by 15% to reach $15. On-chain data shows increased whale activity and rising interest from traders following the bullish breakout. Currently, 51.02% of top traders hold long positions on LINK. While LINK has experienced a small price surge, trading volume has declined, indicating lower participation from traders and investors. It is important for LINK to close its daily candle above $12.90 for the bullish thesis to hold true.
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