Chainlink Price Holds Firm Near $17.85 as Analysts Eye $46 Long-Term Target
Chainlink is trading near $17.85, with analysts projecting a long-term target of $46 based on bullish technical formations.Summary
Chainlink (LINK) is currently trading around $17.85, showing stability that analysts believe sets the stage for a significant rally. Analyst Ali suggests a buy-the-dip strategy targeting $46, based on an ascending channel pattern where holding above $15 is crucial for maintaining the bullish structure. Market data shows LINK is up 2.48% in 24 hours, with a market cap of $12.43 billion and increasing trading volume, signaling renewed participation. Furthermore, analyst The Crypto Panda notes LINK is attempting to break out of a symmetrical triangle; a decisive move above the $22 resistance could trigger a rally toward $34, potentially reaching the $46 long-term projection. Technical indicators like the MACD are nearing a bullish crossover, and the price is supported by the 50-day moving average near $17.
(Source：Brave New Coin)