- Altcoin LINK prints bullish pennant after a strong breakout.
- Bull targets set from $15 to $20 and above for LINK.
- Will there be one final dip allowing for accumulation opportunity?
The crypto market continues to see a rise in bullish expectations across a number of promising crypto assets in the space. Already, the fact that Bitcoin and Ethereum have broken past several key resistance levels, is shining a bullish signal for traders and investors of crypto. Among the many altcoins in the space, altcoin LINK prints bullish pennant after a strong breakout. Bull targets for LINK are set between $15 to $20.
Altcoin LINK Prints Bullish Pennant After a Strong Breakout
According to CoinMarketCap analytics, the price of the popular altcoin Chainlink (LINK) is trading at the $11.31 price range showing that the asset is trading down by over 2% over the last 7 days. However, in terms of the last 30 days, the price of LINK is up by almost 40%, meaning over the last 30 days, the price of LINK soared from $8 to $11 and analysts continue to remain bullish.
Over the last couple of weeks, Chainlink’s native token asset, LINK, has been facing down multiple resistance levels and has broken above many. Experts saw the asset first face pressure as a $2.3 million whale transfer sparked sell off fears only for LINK to go on to print a textbook bullish pennant as bulls set their sights on the $15 price target. At the moment however, LINK faces a critical test at the $11.22 price range.
Now, with the price over the $11.22 price range, analysts are confirming several bullish signals on the LINK price chart. As we can see from the post above, LINK is printing a bullish pennant after a strong breakout, leading for the price of LINK to be consolidating around the $11 – $12 price range, while holding the rising support. A clean breakout above the pennant could send the price of LINK toward the $15.50 bull target
Bull Targets Set From $15 to $20 and Above
The same analyst and crypto altcoin expert goes on to mention that if LINK goes on to maintain its strong momentum, it could lead to LINK bulls coiling for another expansion move. Thus, the post goes on to conclude that the market sentiment for the price of LINK at this moment is a heavily bullish one. Responses to the post show affirmation on the move as well as expectations towards a smaller bull target at $13.20.
As we can see from the post above, the price of LINK has started an uptrend vs. Bitcoin (BTC), which the analyst goes on to conclude would mean that it is time to be buying the dip on LINK. He then goes on to state that we will soon see upwards momentum and the first target for LINK is expected to be taking out the high at 2400 sats. In conclusion, by that estimate, he expects the price of LINK to hit $20 and even prices above that target.
