Chainlink Shows Bullish Momentum as LINKBTC Pair Gains Strength
- Chainlink ended the day on a bullish note, with signs of more upside potential.
- The LINKBTC pair showed strong momentum, printing a powerful bullish daily candle.
- A move above the $22 resistance level is seen as a key indicator of strength for Chainlink.
- Current support levels are identified at $20 and $19.80, crucial for maintaining bullish momentum.
- Potential rally targets include $25 and $30, contingent on consecutive bullish closes.
The recent analysis highlights Chainlink’s strong performance against Bitcoin, with capital rotation favoring altcoins like LINK over Bitcoin. This shift indicates significant underlying strength in the altcoin market.
With Chainlink’s price structure supported by the LINKBTC pair’s strength, achieving another bullish daily close could solidify a V-shape recovery and target higher resistance levels such as $25 and $30. (Source)
