The technical indicators for Chainlink (LINK) are aligning in a way that suggests a significant price increase is on the horizon. According to crypto analyst LLuciano_BTC, multiple factors point toward a potential rally that could push LINK past the $30 mark.
“We’ve seen this pattern before,” notes LLuciano_BTC. “Back in November, LINK experienced a breakout that resulted in substantial upward movement. The current price action mirrors what we saw then, with LINK approaching a similar breakout level after testing the demand zone in the $13-$15 range.”
Pattern Recognition Points to Growth for LINK
What makes this analysis particularly compelling is the formation of a bullish flag pattern. This continuation pattern frequently signals an upcoming strong move to the upside. Previous instances where LINK broke out from such a pattern resulted in notable price increases, setting a precedent for what might unfold now.
Read Also: Multiple Bullish Chainlink Fundamentals Paint a Bright Future for LINK Price
The current price has bounced from a key demand zone, demonstrating significant buying interest at these levels. This support isn’t random – it aligns with areas where accumulation occurred before previous rallies, suggesting smart money may be positioning itself for an upcoming move.
If LINK breaks out as the analysis suggests could happen in March, the projected movement would push its price above previous highs.
Based on historical behavior and the technical patterns forming, a target of $30 or higher appears realistic.
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