In the past four days, the price of Chainlink (LINK) has increased by over 65%, grabbing analysts' attention. Some experts suggest this could be just the beginning.
Sharp Increase in LINK Price
Analyst Ali pointed out that the price of LINK could reach $46 if it holds above the $13 support level. He shared a chart showing how LINK bounced strongly from the $13 mark and is now forming higher lows in an upward trend.
Technical Indicators Show Buy Signal
Technical data from Investing.com show that LINK is flashing a strong buy signal on the weekly chart. Most indicators are pointing to 'Buy,' with only a few in the neutral zone.
Long-term Moving Averages Indicate Bullish Trend
All moving averages are currently showing a buy signal as well. This indicates that the upward momentum is not just short-term and may continue.
Chainlink shows signs of strength, with potential for further growth if the current level is held, which could lead to more significant breakouts in the future.
