Chainlink’s LINK inches away from breaking a key resistance level as it firmly broke above the $13.00 level which was suppressing the price action for the past few weeks. This marks a notable breakout and suggests that the crypto-asset could be on the cusp of more upsides so let’s look into the chainlink coin news.
Its price was stuck below this level for the past few weeks and broke above it today which was a huge step towards revisiting the previous all-time high. Analysts that are flipping long on the cryptocurrency with the ongoing upswing being bolstered by the technical strength as well as the tailwinds created by the ongoing breakout seen by BTC, ETH, and the rest of the crypto market, will bolster the coin further again.
One trader is looking towards the cryptocurrency seeing a sharp move towards $14.00 in the near-term noting that the resistance could slow its ascent before seeing a breakout past $15. Because the entire crypto market is strong, there’s a strong chance that the significantly further upside could come in the weeks ahead. Once it breaks above $15, a move towards its all-time high will be in the cards. At the time of writing, Chainlink is trading up just over 2% with a current price of $13.31. this level held strong as resistance on multiple occasions over the past few weeks. Today’s break above this level promised that LINK inches away from a breakout and that the bulls are in full control of the price action.
Where it will go next it depends on whether this level could be flipped into support as an ability to do so which could help catalyze further momentum. While sharing the thoughts on where could Chainlink turned in the near-term, one analyst explained that he is watching for a move above $14.00 followed by $15.00. He pointed to the targets highlighted on the charts and if this plays out, in the upcoming few days we could see a move towards $20.
“LINK – Heatmap. Run it back turbo. I see no reason to short LINK here, I fully expect it to tap that 13.8-14 resistance, before mowing through it to 15…,”
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