Crypto analyst and trader Ali Martinez, Chainlink (LINK) may climb higher soon in your opinion. The analyst noted that decentralized oracle network Chainlink could break through a key resistance and hit $26.87.
Chainlink is facing stiff resistance between $19.40 and $20.03, where 5,330 addresses hold more than 8.59 million LINK. But if LINK can break through this supply wall, the next critical resistance area is around $26.87, representing a 38% price increase!
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Traders attempt to determine the support and resistance levels of a particular digital asset by monitoring Chainlink’s In/Out of the Money Around the Price (IOMAP). Other traders are also bullish on Chainlink.
Analyst Rekt Capital believes that LINK is in an uptrend and may fall only to retest support levels before continuing to rise.
Fracture confirmed. If it occurs, any decline to the top of the reaccumulation range will likely serve as a retest attempt before a continuation of the trend.
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On the other hand, analyst Inmortal predicts that LINK will rise 443% from its current value.
“After complex mathematical calculations and years of research, I have come to the following conclusions: First, LINK is extremely undervalued (I have shared this thought since the $6 levels. Second, at some point in this cycle, a LINK will = $100.”
After looking at its chart, the trader suggests that LINK will continue to rise on one leg, followed by consolidation for a while, and then move to the next leg.
LINK is trading at $18.40 at the time of writing, down more than 3% in the last 24 hours.
