Chainlink continues to attract traders' attention after rebounding from significant support levels. The price is currently around $13, with some analysts predicting growth potential up to $32.
Trader Strategies and Support at $12
LINK's price has shown signs of recovery after bouncing off the support level in the $11.50–$12.00 range. Trading volume reached 1.8 million, indicating renewed interest from buyers.
Trading Range and Key Resistance Levels
Chainlink has remained in a descending channel since March. A key resistance level is around $14.50, which the price has struggled to surpass for several weeks. If LINK can break above this level, potential targets might include $17.50, $22.50, and $27.50.
Future of LINK: Is $32 Achievable?
Analyst CryptoED suggests that LINK might reach $32 under favorable market conditions. To achieve this, it would need to break above $15 and hold above $17.50. However, such growth remains uncertain and dependent on overall market dynamics.
In the near future, traders will closely monitor LINK's trends. While current indicators show growth potential, the future of this cryptocurrency remains uncertain.
