Cryptocurrency Daily Thefoxposts.com

Analysts are projecting the Chainlink (LINK) cryptocurrency to reach a one-year high of $32, suggesting a bullish period ahead. This would mark an approximate 126% rally from the asset’s current price. Chainlink price has printed a double bottom chart pattern, alluding to a potential 126% rally to the upside. According to analysts, bullish sentiment among traders is increasing following a rise in LINK’s 30-day MVRV to the highest level in one month. Additionally, LINK is currently forming a bullish setup with a falling wedge pattern. The price has been consolidating within this wedge, signaling a possible trend reversal. As Chainlink approaches the apex of the pattern, investors could see a sharp move upwards, unlocking a new resistance level on the path to $32. There has been bearish sentiment around the crypto market over the past week. One set of news that has been harming the market has been the resumption of tariff concerns. With tariff tensions bubbling up again and no...

A renowned crypto strategist has recently put Chainlink (LINK) under the microscope, suggesting potential upward momentum . Kevin Svenson, who boasts a following of 70,700 YouTube enthusiasts, believes that Chainlink might soon see the end of its prolonged downward stride. Significantly, this assumption comes after LINK surpassed a pivotal long-term marker. Svenson elaborates, “We’ve ascended above the 500-day SMA, which is the longest moving average we’ve observed. This crossover by Chainlink is telling. Typically, transcending these extensive SMAs indicates an overarching shift in dynamics.” Besides this, Svenson interprets Chainlink’s current movement as a preliminary reversal signal. Consequently, he speculates a situation where this Ethereum (ETH)-anchored altcoin retains its optimistic vigor in the imminent future, soaring towards its overarching resistance. However, Svenson remarks that LINK probably requires an extended period before genuinely adopting a ...