Analyst Says Chainlink Price Could Climb To $19

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	12,088,923,206	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

12,088,923,206

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000403	-0.29%	0.137161	0.137195	0.137202

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000403

-0.29%

0.137161

0.137195

0.137202

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.137748	0.136943	0.137564	0.137564	0.071373 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.137748

0.136943

0.137564

0.071373 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	17:15:57	61.33	0.137161	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

17:15:57

61.33

0.137161

USD

Price x Volume	Volume	Base Symbol	Related Pairs
61,088.34	444,544.32	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

61,088.34

444,544.32

Analyst Says Chainlink Price Could Climb To $19 — Here’s How

27/07/2024 10:00am

NEWSBTC

In recent months, the Chainlink price hasn’t quite been able to replicate the bullish strength it showed at the start of the year. And the past week was a prime example of the coin’s recent struggles, as the bulls failed to completely stamp control over the last seven-day period. However, it appears that the LINK price inconsistencies might be coming to an end soon, as a popular crypto analyst has identified a bullish pattern on the token’s price chart. How LINK Price Could Soar 48% To Reach $19 Prominent crypto analyst Ali Martinez has shared — via a post on X — an exciting prognosis on the future trajectory of the Chainlink price. According to the crypto pundit, the cryptocurrency, which has largely struggled, could be set for a price turnaround over the next few weeks. Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Here’s Why The rationale behind this bullish projection is the formation of an inverse head and shoulders pattern on the LINK four-hour price chart. The inverse head and shoulders formation is a technical analysis indicator that features a head (a lower low) in between two shoulders (usually a lower low and a higher low). This chart formation — whether in the normal or inverse form — is a significant indicator for identifying trend reversals. Specifically, the inverse head and shoulder pattern suggests a shift from a bearish to a bullish trend when the price breaks the neckline, an imaginary line that runs through the peaks of the troughs. Martinez noted in his post on X that the price of Chainlink could make a run towards the $19 mark over the next coming days. However, the cryptocurrency must break above the neckline around the $15 level, as shown in the chart above. A rally to the $19 mark would represent an almost 50% price leap from the current price. And a return to this price level would be most welcomed by the altcoin’s investors, having spent the last two months beneath it. Chainlink Price At A Glance As of this writing, the Chainlink price has jumped slightly above $13.5, reflecting a 3.6% increase in the last 24 hours. However, this price gain is not significant enough to wipe the token’s loss over the past seven days. Related Reading: Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms According to data from CoinGecko, the LINK token experienced a 3% decline in value in the past week. Nevertheless, the cryptocurrency still ranks among the top 20 largest assets in the sector, with a market cap of more than $8.2 billion. Featured image from Unsplash, chart from TradingView

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