Chainlink (LINK) Price Could Finally Break Out As 2-Year Accumulation Points to a 470% Rally
The price of the chain could finally be ready to take a big step. After spending almost two years stuck in a range between $ 5 and $ 10, it seems that things are starting to line up, both on the graphic and behind the scenes.
Crypto expert Michaël Van de Poppe recently called Link, one of his best choices for the next market cycle, highlighting his expanding partnerships in the United States and the growing importance of tokens and the challenge.
Looking at prices, Link bounces in the same area, between around $ 5.50 and $ 9.75, since mid-201. He formed a series of tight consolidation boxes, each showing higher stockings but having not broken out. This type of structure generally points to regular accumulation, where buyers are gradually taking care.
Now things become interesting. The price of the link is based on a long -term descending trend line which has been holding it since the beginning of 2021. The price is flat away below, creating what traders call a “compression” configuration. If Link can finally pierce this level of $ 9.75, the next stop could be about $ 26.50, a potential movement of 470% of the place where it is now.
Price of the key support chain and keys resistance
The graph describes several key zones which have acted as structural anchors for the Link price. The main request zone between $ 5.50 and $ 6.50 systematically held by each drop, offering a strong purchase interest. A level of secondary support almost $ 7.00 served as short -term support in the largest range.
Uplining, $ 9.75 remains the key resistance area. Link has failed to close above this level during previous attempts since the beginning of 2022. An escape beyond this level can validate a long-awaited trend reversal. The target range projected around $ 26.50 is based on historical performance during similar market configurations.
Read also: the 40x potential of Pepe is not yet dead – here is what the graphics say
Link developments on the chain and ecosystems
Van de Poppe's tweet highlights Link's progress on the development side. He referred to the growing list of the American partnership project and ecosystem initiatives, in particular integration with the main financial institutions and the deployment of new solutions such as CCIP and implementation.
He also declared that the market had not yet fully price in the expansion of the Chainlink ecosystem. Depending on its prospects, the price of the following link could exceed its peak of 2021 if technical and fundamental growth converges.
Sensation of the market and chain price prospects
When you look at the volume, there is a clear diagram: it tends to climb just before the link separates from its consolidation zones. Currently, the volume of trading is still relatively low, which is perceived by many analysts as normal just before a major decision. It is calm before the storm, so to speak. Meanwhile, the relative resistance index (RSI) is less than 50, which suggests that there is still a lot of space for the price to increase without being too much.
If the current momentum in the Chainlink ecosystem continues to grow and traders are starting to take Notice, the link price may soon be reviewed. With years of silent accumulation behind her and an increasing role in the deffi world, this is perhaps the moment when all these bases are starting to appear in the price.
Follow us X (twitter),, Coinmarketcap And Square For more daily crypto updates.
Get all our future calls by joining our Free telegram group.
We recommend Etoro
Active user community and social features such as news flows, cats for specific parts available for trading.
Large range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the main traders for free.
Interrupted: the web platform and the Etoro mobile application are user-friendly and easy to navigate.
