Chainlink Continues its Bullish Streak: LINK Price May Go Higher than 20% This Week!

The token is displaying extreme strength as the bulls seem to have capitulated the rally following a bullish rebound that occurred in the last week. The volume has been consistent, which indicates the growing interest of the traders in the platform. Now that the price has surpassed one of the key resistance levels, a bullish continuation is expected, which may elevate the levels beyond the desired target of $20. 

Is this just a beginning? Is LINK price aiming for a higher target for the monthly close?

Ever since the price broke the 20-month-long consolidation, the Marines have become hopeful of the upcoming trend. Another breakout could be on the horizon, as the price has now surged above the barrier, which may attract fresh liquidity hereafter. With this, the target of $20 has become achievable, while the real targets have become more elevated beyond the yearly highs. 

The upper chart displays a huge bullish trajectory for the LINK price as the token has undergone a giant upswing after forming a triple bottom at the support zone close to $13. Moreover, the price has broken above the resistance of the descending triangle before reaching the apex of the pattern. Besides, the bulls did not leave any scope for a correction as the price maintained a healthy upswing and surpassed the crucial resistance at $16.42.

Moreover, the fresh week’s trade began with a strong bullish sentiment, due to which the trade is expected to remain elevated until the end. 

The price is expected to maintain a healthy upswing until it reaches the crucial resistance zone between $18.39 and $19.18 in the next few days. After sustaining and consolidating within the resistance zone, a brief upswing to the yearly highs at $21.8. This may cause a small correction but eventually, a fresh rise could lead to a rally above $22.