Chainlink price is on the verge to break the flag after a massive surge with the rounds of Grayscale filing a trust
The strong bullish momentum triggers a strong buy signal for the traders as the price trends within a pivotal point
LINK Price to Explode Soon!
Chainlink price appears to be strongly heading towards forming a new ATH very soon as currently, it sits at a pivotal point. The price rose over 14% in minutes after the Grayscale Announcement, however, the lack of strong resistance just led to a price drop further.
However, at the press time, the Chainlink price is all set to bust for a breakout. The current price gain is already more than 30% post the breakout recently, and a similar rally is in need of the hour.
The price showcases an extreme bullish momentum and hence appears to be poised to break the current ATH around $36. According to a popular crypto analyst, the new ATH of the price may be around $43. As the price’s volatility and the previous uptrend triggers a buy signal for the traders.
Will the Price Rally Above $43?
The Chainlink price discovery initiated at the beginning of the year 2021. The price rally accelerated and smashed the highest levels above $35 in a very less time-frame. However, it maintained and sustained above the strong support trend line since then.
No doubt, it revisited the levels multiple time but failed to break and renounced massively gaining more than 100% on an average each time.
As mentioned in the price chart, the price touched the support trend line three times previously before the recent one. And each time the price bounced back massively with an average above 100%.
Therefore, if the price rebounds more than 100% as it did previously, the LINK price may also hit the levels above $50 too. At the time of writing, the chainlink price is $30.93 with a jump of 4.01% in the past 24 hours and rallied nearly 11.18% in the last seven days.
- The resistance levels of Chainlink price stand initially at $33 and later at the ATH above $37
- The support levels are formed initially at $26, but they appear no so strong enough, and hence the next levels are formed at $22
- The indicators for the LINK price point out towards a strong buy signal, exhibiting extreme bullish momentum
Also Read: Chainlink Is Poised to Outperform Other Altcoins This Market Cycle!