• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Chainlink Price Reaction: Potential LINK Changes

user avatar

by Giorgi Kostiuk

3 months ago


Technical analysis indicates potential for Chainlink (LINK) price change. Ali Charts suggests a bearish scenario.

Head-and-Shoulders Pattern Formation

The analysis highlighted a head-and-shoulders pattern on the Chainlink hourly chart. The left shoulder formed as the price fluctuated in the $23.5-$27 range. The head emerged at a higher peak around $30, followed by a decline. The right shoulder occurred at a rise to $25.8, failing to surpass the head's height. The neckline, positioned around $20.5, serves as a vital support point.

Target Calculation and Price Prediction

The target for this move is calculated by measuring the distance between the head and the neckline and projecting it downward. The difference of around $9.5 suggests a potential decline from the neckline's $20.5 level to $10. This aligns with Ali's prediction of a potential drop to $14 if the pattern is confirmed. LINK is currently trading at around $22.95.

Role of Volume in Confirmation

Volume plays a crucial role in confirming the pattern formation. A breakdown below the neckline must be accompanied by increased trading volume to validate the bearish momentum. Without this volume increase, the pattern might fail, leading to a possible LINK reversal.

While the head-and-shoulders pattern is not confirmed, LINK remains at a critical juncture. Volume will be a key factor in determining further price movement.

0

Share

Other news

BYDFi 5th Anniversary: Innovation and Web3 in Focus

BYDFi celebrates its 5th anniversary: history of growth and Web3 adoption.

user avatarGiorgi Kostiuk

2 minutes ago

Ethereum Price May Drop Due to Weak Stock Market

Analyst Benjamin Cowen predicts Ethereum's price may decline owing to stock market weakness and macroeconomic factors.

user avatarGiorgi Kostiuk

3 minutes ago

Trump's Tariffs Shake Crypto and Global Markets

Trump's tariffs caused a sharp drop in crypto and global markets: Fear Index plummets to 25.

user avatarGiorgi Kostiuk

3 minutes ago

Qubetics Cryptocurrency: Interoperability and Growth Potential

Qubetics offers unique blockchain interoperability and promises high growth potential.

user avatarGiorgi Kostiuk

3 minutes ago

Cryptocurrencies in National Reserve: US Initiative

Donald Trump's announcement of a US crypto reserve including Bitcoin and Ethereum sparks a global discussion on digital assets.

user avatarGiorgi Kostiuk

4 minutes ago

XRP Price Update: Preparing for a Downturn?

XRP holds near the $2 level; market analysis shows potential shifts in the crypto market.

user avatarGiorgi Kostiuk

10 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.