Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
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

Six high upside encryption coins of less than $ 20 are seen in 2025.

July 5, 2025

Valhalla Goes Today: FLOKI has been developed for 3 years and debuts the play MMORPG.

July 4, 2025

XRP rebounds are interested in APT miners cloud mining.

July 3, 2025
Add A Comment

Comments are closed.

Recent Posts

AAS MINER Rolls Out 2025 AI Cloud Mining Plan — Fully SEC-Compliant, Risk-Controlled, And Tailored For Crypto Enthusiasts

July 6, 2025

As Nano Labs begins to accumulate $ 1 billion, BNB gets a big supporter.

July 5, 2025

The Complete Guide to Crypto Website Listing Directories

July 5, 2025

Crypto Directories Listing That Will Transform Your Project’s Reach

July 5, 2025

The Ultimate Guide to Hiring a Crypto Marketing Agency

July 5, 2025

Six high upside encryption coins of less than $ 20 are seen in 2025.

July 5, 2025

Valhalla Goes Today: FLOKI has been developed for 3 years and debuts the play MMORPG.

July 4, 2025

The Open Platform Is First Unicorn In Web3 Ecosystem In Telegram At $1bn Valuation

July 3, 2025

The mindset of Retail Investors

July 3, 2025

Cooking.City Bringing Back Value Redistribution To Solana Fair Launches

July 3, 2025

XRP rebounds are interested in APT miners cloud mining.

July 3, 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

AAS MINER Rolls Out 2025 AI Cloud Mining Plan — Fully SEC-Compliant, Risk-Controlled, And Tailored For Crypto Enthusiasts

July 6, 2025

As Nano Labs begins to accumulate $ 1 billion, BNB gets a big supporter.

July 5, 2025

The Complete Guide to Crypto Website Listing Directories

July 5, 2025
Most Popular

ORACLE MEME Coin Presale Reaches $208,000 Milestone in Minutes

June 4, 2024

QCP Capital says it has seen ‘bullish flows’ on its trading desk amid the decline in Bitcoin prices.

June 10, 2024

The TRUMP token has recovered from a severe downturn following Donald Trump’s conviction.

June 2, 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.