Crypto analyst and trader Ali Martinez believes that Chainlink (LINK) could soon make another breakthrough.
Martinez says 42,400 followers on social media platform
“Chainlink faces strong resistance between $19.40 and $20.03, where 5,330 addresses hold over 8.59 million LINK. However, if LINK can break through this supply wall, the next important resistance area is around $26.87, which represents a 38% price increase!”
Trader Charts tracks LINK’s In/Out of the Money Around Price (IOMAP), an indicator that helps identify support and resistance levels for specific digital assets.
Other traders are also bullish on Chainlink.
Pseudonym analyst Rekt Capital Believe Chainlink is in an upward trend, but may fall to retest support levels before holding higher.
“Breakout confirmed. A drop to the upper end of the reaccumulation range (if that happens) will likely act as a retest attempt before the further trend continues.”
Household analyst Inmortal predicts that Chainlink will surge more than 443% above its current value this cycle.
“After complex mathematical calculations and years of research, I came to the following conclusion.
1. LINK is extremely undervalued. (I’ve been saying this since it was $6 lol)
2. At some point in this cycle: One LINK = $100.”
Looking at the chart, traders suggest that LINK will continue to move higher and consolidate for a while before breaking out into the next zone.
Chainlink is trading at $18.40 at the time of this writing, down more than 3% in the last 24 hours.
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