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MediaWith LINK Price Under Retest, Upside Potential Rises To 100%
The post With LINK Price Under Retest, Upside Potential Rises To 100% appeared first on Coinpedia Fintech News
With the Bitcoin halving coming closer, the altcoins are preparing for the next altcoin season as the underlying demand grows. Amidst this, the LINK price action shows a high likelihood of an uptrend continuation with a potential retest.
Despite the recent fall in the past few weeks, Chainlink comes as a strong candidate with an upside potential of 100% surge. Will the altcoin price reach the $50 mark as the overall market teases an uptrend in April? Find out more in our LINK price prediction that suggests a rally beyond $50 in 2024.
Chainlink Price Performance
With a rounding bottom breakout in the weekly chart, the LINK price trend is ready for a massive upswing. However, the recent pullback as the market slides with increased volatility questions the likelihood of a bull run.
Tradingview
The LINK price action shows a high supply pressure at the $23 mark or the 38.20% Fibonacci level, leading to a quick fall to $16. With this downfall, the altcoin retests a crucial demand zone present near the 23.60% Fibonacci level.
Further, the candles near the demand zone showcase lower price rejection, teasing a bounce back. Currently, the LINK price trades at $17.57, with an ongoing brawl at the $16 support zone.
Technical indicators:
EMA: The 200W and 50W EMA sustain a positive alignment following the recent golden cross.
RSI: The recent pullback drops the weekly RSI line closer to the halfway line.
Will LINK Price Reach $50?
With the LINK price drawing closer to the 200D EMA and the ongoing retest of $16, the altcoin signals a buying opportunity. Despite the pullback visible in the weekly chart, the altcoin offers an absolute beast of upside potential to reach $35.
However, a downfall under the $15 mark or the 200D EMA could retest the $13.61 mark or the 50W EMA.
Read More
With LINK Price Under Retest, Upside Potential Rises To 100%
The post With LINK Price Under Retest, Upside Potential Rises To 100% appeared first on Coinpedia Fintech News
With the Bitcoin halving coming closer, the altcoins are preparing for the next altcoin season as the underlying demand grows. Amidst this, the LINK price action shows a high likelihood of an uptrend continuation with a potential retest.
Despite the recent fall in the past few weeks, Chainlink comes as a strong candidate with an upside potential of 100% surge. Will the altcoin price reach the $50 mark as the overall market teases an uptrend in April? Find out more in our LINK price prediction that suggests a rally beyond $50 in 2024.
Chainlink Price Performance
With a rounding bottom breakout in the weekly chart, the LINK price trend is ready for a massive upswing. However, the recent pullback as the market slides with increased volatility questions the likelihood of a bull run.
Tradingview
The LINK price action shows a high supply pressure at the $23 mark or the 38.20% Fibonacci level, leading to a quick fall to $16. With this downfall, the altcoin retests a crucial demand zone present near the 23.60% Fibonacci level.
Further, the candles near the demand zone showcase lower price rejection, teasing a bounce back. Currently, the LINK price trades at $17.57, with an ongoing brawl at the $16 support zone.
Technical indicators:
EMA: The 200W and 50W EMA sustain a positive alignment following the recent golden cross.
RSI: The recent pullback drops the weekly RSI line closer to the halfway line.
Will LINK Price Reach $50?
With the LINK price drawing closer to the 200D EMA and the ongoing retest of $16, the altcoin signals a buying opportunity. Despite the pullback visible in the weekly chart, the altcoin offers an absolute beast of upside potential to reach $35.
However, a downfall under the $15 mark or the 200D EMA could retest the $13.61 mark or the 50W EMA.
Read More