The price of Chainlink (LINK) is bullishly trending, breaking through significant obstacles and setting higher highs and lower lows in the process. It tracks the cryptocurrency market as a whole, driven by Bitcoin (BTC), as it moves north.
Price of Chainlink expects 10% growth.
The price of Chainlink (LINK) has increased by about 65% since September 11th, surpassing a weekly fair value gap (FVG) that stretched from $10.100 to $10.743.
As of this writing, LINK’s market value is $11.319, and considering that momentum is still building, there may be room for more rises. Moreover, the cryptocurrency is constantly pulled northward to make up for the imbalance, as there is still a second tier of weekly FVG from $12.333 to $13.153.
Chainlink Price Outlook: LINK Targets 10% Rally to Fill Inefficiency,Chainlink Price Outlook: LINK Targets 10% Rally to Fill Inefficiency
Therefore, if purchasing pressure picks up above present levels, Chainlink’s price can move higher and challenge the order block’s bottom limit at $12.333. Gains might push LINK above its midline at $12.719 farther north, confirming the rally’s persistence.
In a very optimistic scenario, the price of Chainlink can surpass the FVG and move past the psychological levels of $14.000 and $16.000 to test the supply zone order block. This would represent a 40% increase above the present levels.
This prognosis is supported by the Relative Strength Index (RSI), which shows bulls are in control of the LINK market with a position above 50, precisely at 72. With green histogram bars indicating that bulls are driving the market, the Awesome Oscillator (AO) indicators are likewise in the positive region.
On-chain analytics from Chainlink suggest an optimistic view.
Santimemt’s on-chain indicators, which indicate that the supply of Tether (USDT) has grown and that this indicates increasing money inflow with the goal of purchasing LINK, reinforce the positive view. As more and more investors continue to communicate about LINK on social media, LINK’s social dominance is also increasing.
A notable increase in whale transactions has also occurred, and this indicates that major holders are actively participating in the market, which is positive for the cryptocurrency.
On the other hand, early profit-taking in response to an FVG rejection might drive Chainlink’s price south, below the present order block’s support level and confirmed by a break through the crucial $10.000 mark.
In an extremely bullish scenario, the decline may cause LINK to revert to the consolidation phase below $8.148, or even worse, drop all the way to the $5.565 support floor. That would be a 50% decrease from the present pricing.
Chainlink Price Outlook: LINK Targets 10% Rally to Fill Inefficiency,Chainlink Price Outlook: LINK Targets 10% Rally to Fill Inefficiency,Chainlink Price Outlook: LINK Targets 10% Rally to Fill Inefficiency , Chainlink coin Crypto news, Chainlink coin News