The cryptocurrency market has reached a new record, exceeding $4 trillion in capitalization. Ethereum and Chainlink are among the main contributors to this growth.
Ethereum Drives the Market
The cryptocurrency market is experiencing significant growth, with Ethereum (ETH) leading the charge, posting a 21% gain over the past week and nearing the $3,650 price level. This positive momentum is bringing a favorable outlook for the entire sector, including altcoins.
Chainlink and Harmonic Patterns
Chainlink (LINK) surged 14% in the last 24 hours, extending its 30-day gains to an impressive 44%. This is likely attributed to a recent harmonic setup on LINK's chart, indicating a continuation of the bullish trend. LINK is forming a Bearish Bat pattern, known for its strong price oscillations during the final stages.
Forecasts for Chainlink
If this harmonic structure completes, the target price zone could lie between $25.13 and $27.18. These levels align with typical Fibonacci extensions for this setup. To maintain the bullish trend, LINK needs to hold above its 200-day moving average, currently near $16.23.
The cryptocurrency market continues to grow, with Ethereum and Chainlink exhibiting positive trends. Forecasts for LINK indicate potential further growth.
