The last time we made our forecast for LINK cryptocurrency was six months ago. That’s when the price of LINK fell in the range of $13, we expected the formation of a new wave of growth with the first target of $34:
Since then, the price has tested the $34 level twice going white. But we want to note that during the pullback of the entire crypto market since July 2021, LINK cryptocurrency has behaved quite weakly. While other cryptocurrencies were able to update their historical highs, LINK price was strictly kept below $34. The chart also shows the volume of trades, which buyers tried to break the main critical mark of $34.
No special efforts for continuation of growth of Chainlink price were noticed. Also, there were no attempts to hold the price during the local falling trend of November 2021. Only near the previous historical maximum of August 2020 buyers were able to start fighting for their trend. It was with the test of the $18 range that a possible “white” streak for buyers began.
Cryptocurrency LINK – the situation has changed
Today, despite corrections and updating Bitcoin lows, the price of cryptocurrency LINK is headed up. At the top we will once again be met by the level of $34, which is still under the control of sellers. But now we see the positive dynamics of trading volumes exactly on the growth of Chainlink price. Taking into account the importance of the range of $34, the probability of breakthrough at the first time is quite low. Therefore, the last correction to the area of $23-25 before the subsequent break up is possible. There passes a dynamic support channel, which already three times kept the price from a catastrophic downfall.
After a confident consolidation of the LINKUSDT price above $34, the way will open for the next growth target to $53
The price of LINKBTC is preparing for the local correction
Analyzing the LINKBTC price movements, you can see that the buyers have already held the Important range of 0.00036 for the second time. In fact, from July 19, the price of LINKBTC is fixing above this range. The first strike was held by LINK buyers in December 20. The second ended in December 21. In both cases, an aggressive bounce in the LINK price began. Therefore, locally, we are waiting for a slight correction of LINKBTC, which should confirm the strength of the buyers. Then the growth wave should continue with a maximum target of 0.001. But if the buyers do not hold the 0.00056 mark, the probability of LINKBTC price continuation in the triangle will significantly increase:
