Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»TRADING NEWS»Could Chainlink (LINK) Price Reach $20 After New Year’s Highs?
TRADING NEWS

Could Chainlink (LINK) Price Reach $20 After New Year’s Highs?

By Crypto FlexsDecember 28, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Could Chainlink (LINK) Price Reach  After New Year’s Highs?
Share
Facebook Twitter LinkedIn Pinterest Email

Chainlink (LINK) price today ended a six-week consolidation by hitting a yearly high of $17.68.

Despite the high numbers, LINK is still trading within its long-term horizontal resistance zone. Will it explode before the end of the year?

Chainlink Hits Annual High

LINK price has risen since falling to a June low of $4.90. Initially, LINK failed to break away from the long-term descending resistance trend line (red icon). But last September, we finally succeeded in going beyond that.

This rise led to a peak of $16.58 in November, but has slowed since then. After six weeks of consolidation, LINK price finally began an upward movement this week, hitting a yearly high of $17.68 within a long-term horizontal resistance area.

LINK/USD weekly chart. Source: TradingView

Market traders use RSI as a momentum indicator to identify overbought or oversold conditions and decide whether to accumulate or sell assets.

Readings above 50 and an upward trend indicate that bulls still have the advantage, while readings below 50 indicate the opposite. The RSI has created a bearish divergence (green) and is trending lower, both of which are considered bearish signs.

Read more: How to buy Chainlink with credit card

What do analysts say?

Cryptocurrency traders and analysts at X are resolutely optimistic about the future LINK trend.

Inmortal believes that LINK price will soon break out of the symmetrical triangle and rise above $20. That too Indicates that rotation is in progress. By saying:

rotation. at $SOL and $AVAX to $ETH and $LINK

LINK price change
LINK/USDT 12-hour chart. source: X

Bubba Fox is Optimistic for fundamental reasonsand Kyle Chase Proposes LINK Price Increase It will soon become parabolic.

Read more: What is Chainlink (LINK)?

LINK Price Prediction: $20 before the end of the year?

Technical analysts use Elliott Wave Theory to identify recurring long-term price patterns and investor sentiment, which helps determine trend direction.

The most likely reading indicates that LINK has begun the fifth and final wave (black) of the upward movement that began in June.

If my calculations are correct, LINK completed the fourth wave on December 18th and then began the fifth wave. The fact that the daily RSI breaks away from the bearish divergence trend line supports this possibility.

If LINK breaks out of the channel, the most likely target for the top of an upward move is $23.75, 50% above the current price. The target is found by giving wave 5 the same length as wave 1.

It is also consistent with the resistance trend lines of a long-term ascending parallel channel and a long-term horizontal resistance area.

LINK price prediction
LINK/USDT daily chart. Source: TradingView

Despite these optimistic LINK price predictions, a rejection of the channel’s resistance trendline could lead to a 17% drop to the channel’s support trendline of $14.

In the case of BeInCrypto‘Click here for the latest cryptocurrency market analysis.

disclaimer

In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Floki registers an Micar compatible white paper with ESMA.

July 29, 2025

Rome Storm finds $ 1.5 million in donations, with a tornado cash test in three weeks.

July 28, 2025

Forexus drops NFT coins -the public stage is sold in a few minutes.

July 27, 2025
Add A Comment

Comments are closed.

Recent Posts

Queens Park Rangers And TokenFi Announces New Partnership

July 29, 2025

Onchain AI Agents Go Live With USDC & Coinbase X402

July 29, 2025

DeepSnitch Introduces Five Specialized AI Agents As Token Presale Goes Live

July 29, 2025

PowerBank’s 3.79 MW Geddes Solar Project Goes Live, Powering New Bitcoin Treasury Strategy

July 29, 2025

Ika Launches Mainnet To Enable Native Cross-Chain Asset Control On Sui Blockchain

July 29, 2025

Floki registers an Micar compatible white paper with ESMA.

July 29, 2025

Use Dogecoin (DOGE) To Participate In DLMining Cloud Mining Bitcoin And Easily Achieve $5,000 In Daily Income

July 29, 2025

Mill City Ventures III, Ltd. Announces $450,000,000 Private Placement To Initiate Sui Treasury Strategy

July 28, 2025

Pear Protocol Goes Live With Hyperliquid Integration And Announces $4.1M Strategic Round Led By Castle Island Ventures

July 28, 2025

MapleStory Universe Expands Infinite IP Playground Vision With Developer Tools And Legacy IP Expansion

July 28, 2025

SatoshiMeme ($SATOSHI) Emerges, Declaring ‘Return Of Satoshi Nakamoto’

July 28, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Queens Park Rangers And TokenFi Announces New Partnership

July 29, 2025

Onchain AI Agents Go Live With USDC & Coinbase X402

July 29, 2025

DeepSnitch Introduces Five Specialized AI Agents As Token Presale Goes Live

July 29, 2025
Most Popular

Is Ethereum Ready to Break Records? Top analyst says $5,000 is coming soon.

June 18, 2024

Sui Foundation partners with Stork to improve speed and accuracy of cryptocurrency markets

January 18, 2024

FINRA said it reviewed rules that found 70% of cryptocurrency communications were violated.

January 24, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.