NewsletterAfter 6% Rally Today, Chainlink (LINK) Price is Aiming At 35% Surge, Here’s Why
Highlights
- Chainlink price surged 6% but dropped as investors began to fear today's Trump tariff event.
- Analysts predict a potential 35% rally as the charts show bullish pattern formation.
- If the breakout is confirmed, the LINK price could hit $21.
Chainlink price faced high volatility with the rest of the crypto market in the last few weeks. However, today’s 6% price recovery and experts’ predictions reveal the possibility of double-digit gains, intriguing investors in the altcoins, especially as the rest of the cryptos face bears’ dominance. This includes Bitcoin, which is trading below the $85k mark, Ethereum struggling at $1800, and others under the influence of Donald Trump’s tariff news. Let’s discuss what’s behind today’s LINK price rally and why it may surge 35% next.
Chainlink Price Surged 6% Today Before Declining
After bearing a significant downtrend and losing 15% of its value over the month, the LINK price chart presents the recovery potential. Just today, the token surged 6%, reaching a high of $14.36 earlier in the day.
Interestingly, this surge came amid the global crypto market recovery. However, it failed to last long as investors became fearful of today’s Donald Trump tariff announcement. It currently trades at $13.65 and has a market capitalization of $8.96B.
Regardless, the 40% surge in its 24-hour trading volume reveals high investor interest, which could cater to further LINK recovery.
Chainlink Price Prediction: Why 35% Rally Next?
Experts believe the new Tariff outcome could bring volatility, affecting the prices of Bitcoin and other digital assets. This includes the LINK token, but the technical chart shows the formation of a symmetrical triangle pattern, hinting at the upcoming price rally.
The symmetrical triangle is a famous bullish technical indicator, revealing a breakout formation after the consolidation. At present, the LINK price is at $13.64, which is near the apex, and the pattern reveals the breakout possibility.
Crypto analyst Ali Martinez’s X post reveals a 35% breakout is imminent if the token moves up from the breakout point with a substantial trading volume. With that, the Chainlink price prediction opens the possibility for a rally to $21 or higher.
Chainlink LINK is consolidating in a triangle pattern, potentially setting up for a 35% price move. A breakout could be imminent. Watch closely!
However, this is just an anticipation and requires bullish confirmation. If the price moves down the support, it could invalidate the breakout possibility.
Frequently Asked Questions (FAQs)
1. Why did Chainlink's price surge and crash immediately after that?
2. Why can the LINK price surge 35% next?
3. Can Chainlink create a new ATH next?
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