{"id":35792,"date":"2024-02-05T15:52:38","date_gmt":"2024-02-05T19:52:38","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=35792"},"modified":"2024-02-05T15:52:38","modified_gmt":"2024-02-05T19:52:38","slug":"chainlink-link-price-breaks-out-of-bullish-flag-pole-heres-the-next-target","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/05\/chainlink-link-price-breaks-out-of-bullish-flag-pole-heres-the-next-target\/","title":{"rendered":"Chainlink (LINK) Price Breaks Out Of Bullish Flag Pole, Here\u2019s The Next Target"},"content":{"rendered":"

The Chainlink (LINK) price<\/a> has been on an impressive rally over the last week that has brought its price to new yearly highs. As LINK bulls continue to hold firmly above the $18 support, the emergence of this bullish rally has continued to signal that the price surge is far from over.<\/p>\n

Crypto Analyst Says Chainlink Bullish Flag Has Been Broken<\/h2>\n

In an analysis posted<\/a> on the TradingView website, crypto analyst CobraVanguard explains why the Chainlink price<\/a> is currently very bullish. According to the analyst, despite the altcoin showing very bullish signs, a lot of traders are failing to realize that this is the case.<\/p>\n

They identified a flag pole that was created in the chart, and in this case, the flag for the LINK price<\/a> was actually bullish. Even more interesting is the fact that the analyst revealed that the Chainlink price had successfully broken this flag, which they say is bullish for the price.<\/p>\n\n

\u201cLINKUSDT is in a Bullish flag Patter,\u201d the analyst said. \u201cWe can expect a bullish movement as much as the Measured Price movement (flag pole) to happen!\u201d This further solidifies LINK\u2019s entrance into its most bullish phase<\/a> so far in 2024.<\/p>\n

Another major factor that the analyst identifies for the LINK price<\/a> at this level is that the price was testing the major supply zone at $18. At the time, the LINK price had not cleared this level. But at the time of writing, LINk has broken clean off this major supply zone and is now trending toward $19. \u201cThe Flag Is Broken,\u201d the crypto analyst declared.<\/p>\n

What Are The Targets For The LINK Price?<\/h2>\n

In the chart shared in the analysis, the crypto analyst identifies two major points of interest in the Chainlink chart<\/a> and these are the Supply Zone and the Target Price. The first, which is the Supply Zone, is at $18.3, and the LINK price has already broken above this level.<\/p>\n

Given this, the next major point of interest is the Target Price, and CobraVanguard puts this at the $27 price level. However, there is no straight shot toward this level as the analyst\u2019s chart also shows a correction below the $13 support before rallying onto its target.<\/p>\n

If this analysis holds over the coming days\/weeks, then the LINK price<\/a> could see a sharp 20% correction as the first sign. Then from there, a complete 100% move upward to bring the price to the $27 price target.<\/p>\n

At the time of writing, LINK bulls continue to show dominance after a sharp 7% move in the last day. On the broader chart, the LINK price<\/a> is up 27% in the last week, bringing its market cap to $10.9 billion.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The Chainlink (LINK) price<\/a> has been on an impressive rally over the last week that has brought its price to new yearly highs. As LINK bulls continue to hold firmly above the $18 support, the emergence of this bullish rally has continued to signal that the price surge is far from over.<\/p>\n

Crypto Analyst Says Chainlink Bullish Flag Has Been Broken<\/h2>\n

In an analysis posted<\/a> on the TradingView website, crypto analyst CobraVanguard explains why the Chainlink price<\/a> is currently very bullish. According to the analyst, despite the altcoin showing very bullish signs, a lot of traders are failing to realize that this is the case.<\/p>\n

They identified a flag pole that was created in the chart, and in this case, the flag for the LINK price<\/a> was actually bullish. Even more interesting is the fact that the analyst revealed that the Chainlink price had successfully broken this flag, which they say is bullish for the price.<\/p>\n

\u201cLINKUSDT is in a Bullish flag Patter,\u201d the analyst said. \u201cWe can expect a bullish movement as much as the Measured Price movement (flag pole) to happen!\u201d This further solidifies LINK\u2019s entrance into its most bullish phase<\/a> so far in 2024.<\/p>\n

Another major factor that the analyst identifies for the LINK price<\/a> at this level is that the price was testing the major supply zone at $18. At the time, the LINK price had not cleared this level. But at the time of writing, LINk has broken clean off this major supply zone and is now trending toward $19. \u201cThe Flag Is Broken,\u201d the crypto analyst declared.<\/p>\n

What Are The Targets For The LINK Price?<\/h2>\n

In the chart shared in the analysis, the crypto analyst identifies two major points of interest in the Chainlink chart<\/a> and these are the Supply Zone and the Target Price. The first, which is the Supply Zone, is at $18.3, and the LINK price has already broken above this level.<\/p>\n

Given this, the next major point of interest is the Target Price, and CobraVanguard puts this at the $27 price level. However, there is no straight shot toward this level as the analyst\u2019s chart also shows a correction below the $13 support before rallying onto its target.<\/p>\n

If this analysis holds over the coming days\/weeks, then the LINK price<\/a> could see a sharp 20% correction as the first sign. Then from there, a complete 100% move upward to bring the price to the $27 price target.<\/p>\n

At the time of writing, LINK bulls continue to show dominance after a sharp 7% move in the last day. On the broader chart, the LINK price<\/a> is up 27% in the last week, bringing its market cap to $10.9 billion.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35792","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35792"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35792\/revisions"}],"predecessor-version":[{"id":35800,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35792\/revisions\/35800"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35792"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}