{"id":631841,"date":"2024-07-27T09:00:40","date_gmt":"2024-07-27T09:00:40","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=631841"},"modified":"2024-07-27T08:21:11","modified_gmt":"2024-07-27T08:21:11","slug":"chainlink-price-could-climb-to-19-heres-how","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/chainlink\/chainlink-price-could-climb-to-19-heres-how\/","title":{"rendered":"Analyst Says Chainlink Price Could Climb To $19 \u2014 Here’s How"},"content":{"rendered":"

In recent months, the Chainlink price hasn’t quite been able to replicate the bullish strength it showed<\/a> at the start of the year. And the past week was a prime example of the coin\u2019s recent struggles, as the bulls failed to completely stamp control over the last seven-day period.<\/span><\/p>\n

However, it appears that the LINK price inconsistencies might be coming to an end soon, as a popular crypto analyst has identified a bullish pattern on the token\u2019s price chart.<\/span><\/p>\n

How LINK Price Could Soar 48% To Reach $19<\/b><\/h2>\n

Prominent crypto analyst Ali Martinez has shared \u2014 via a post on X<\/a> \u2014 an exciting prognosis on the future trajectory of the Chainlink price. According to the crypto pundit, the cryptocurrency, which has largely struggled, could be set for a price turnaround over the next few weeks.<\/span><\/p>\n

Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here\u2019s Why<\/a><\/div>\n

The rationale behind this bullish projection is the formation of an inverse head and shoulders pattern on the LINK four-hour price chart. The inverse head and shoulders formation<\/a> is a technical analysis indicator that features a head (a lower low) in between two shoulders (usually a lower low and a higher low).<\/span><\/p>\n

This chart formation \u2014 whether in the normal or inverse form \u2014 is a significant indicator for identifying trend reversals. Specifically, the inverse head and shoulder pattern suggests a shift from a bearish to a bullish trend when the price breaks the neckline, an imaginary line that runs through the peaks of the troughs.<\/span><\/p>\n

\"Chainlink
A four-hour price showing the formation of an inverse head and shoulder pattern | Source: Ali_charts\/X<\/a><\/figcaption><\/figure>\n

Martinez noted in his post on X that the price of Chainlink could make a run towards the $19 mark over the next coming days. However, the cryptocurrency must break above the neckline<\/a> around the $15 level, as shown in the chart above.<\/span><\/p>\n

A rally to the $19 mark would represent an almost 50% price leap from the current price. And a return to this price level would be most welcomed by the altcoin’s investors, having spent the last two months beneath it.<\/span><\/p>\n

Chainlink Price At A Glance<\/b><\/h2>\n

As of this writing, the Chainlink price has jumped slightly above $13.5, reflecting a 3.6% increase in the last 24 hours. However, this price gain<\/a> is not significant enough to wipe the token\u2019s loss over the past seven days.<\/span><\/p>\n

Related Reading: Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms<\/a><\/div>\n

According to data from CoinGecko, the LINK token experienced a 3% decline in value in the past week. Nevertheless, the cryptocurrency still ranks among the top 20 largest assets in the sector, with a market cap of more than $8.2 billion.<\/span><\/p>\n

\"Chainlink
The price of Chainlink floats above $13.5 on the daily timeframe | Source: LINKUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Unsplash, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

In recent months, the Chainlink price hasn’t quite been able to replicate the bullish strength it showed at the start of the year. And the past week was a prime example of the coin\u2019s recent struggles, as the bulls failed to completely stamp control over the last seven-day period. However, it appears that the LINK price inconsistencies might be coming to an end soon, as a popular crypto analyst has identified a bullish pattern on the token\u2019s price chart. How LINK Price Could Soar 48% To Reach $19 Prominent crypto analyst Ali Martinez has shared \u2014 via a post on X \u2014 an exciting prognosis on the future trajectory of the Chainlink price. According to the crypto pundit, the cryptocurrency, which has largely struggled, could be set for a price turnaround over the next few weeks. Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here\u2019s Why The rationale behind this bullish projection is the formation of an inverse head and shoulders pattern on the LINK four-hour price chart. The inverse head and shoulders formation is a technical analysis indicator that features a head (a lower low) in between two shoulders (usually a lower low and a higher low). This chart formation \u2014 whether in the normal or inverse form \u2014 is a significant indicator for identifying trend reversals. Specifically, the inverse head and shoulder pattern suggests a shift from a bearish to a bullish trend when the price breaks the neckline, an imaginary line that runs through the peaks of the troughs. Martinez noted in his post on X that the price of Chainlink could make a run towards the $19 mark over the next coming days. However, the cryptocurrency must break above the neckline around the $15 level, as shown in the chart above. A rally to the $19 mark would represent an almost 50% price leap from the current price. And a return to this price level would be most welcomed by the altcoin’s investors, having spent the last two months beneath it. Chainlink Price At A Glance As of this writing, the Chainlink price has jumped slightly above $13.5, reflecting a 3.6% increase in the last 24 hours. However, this price gain is not significant enough to wipe the token\u2019s loss over the past seven days. Related Reading: Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms According to data from CoinGecko, the LINK token experienced a 3% decline in value in the past week. Nevertheless, the cryptocurrency still ranks among the top 20 largest assets in the sector, with a market cap of more than $8.2 billion. Featured image from Unsplash, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":541343,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[87818,16295,79580,16097,82825,79480],"class_list":["post-631841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-ali-martinez","tag-chainlink","tag-chainlink-price","tag-link","tag-link-price","tag-linkusdt"],"acf":[],"yoast_head":"\nChainlink Price Could Climb To $19 \u2014 Here's How<\/title>\n<meta name=\"description\" content=\"In recent months, the Chainlink price hasn't quite been able to replicate the bullish strength it showed at the start of the year. 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Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. 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