{"id":3885,"date":"2024-07-27T09:00:40","date_gmt":"2024-07-27T09:00:40","guid":{"rendered":"https:\/\/cryptd.in\/analyst-says-chainlink-price-could-climb-to-19-heres-how\/"},"modified":"2024-07-27T09:00:40","modified_gmt":"2024-07-27T09:00:40","slug":"analyst-says-chainlink-price-could-climb-to-19-heres-how","status":"publish","type":"post","link":"https:\/\/cryptd.in\/it\/analyst-says-chainlink-price-could-climb-to-19-heres-how\/","title":{"rendered":"Analyst Says Chainlink Price Could Climb To $19 \u2014 Here\u2019s How"},"content":{"rendered":"

In recent months, the Chainlink price hasn\u2019t quite been able to replicate the bullish strength it showed<\/a> at the start of the year. And the past week was a prime example of the coin\u2019s recent struggles, as the bulls failed to completely stamp control over the last seven-day period.<\/p>\n

However, it appears that the LINK price inconsistencies might be coming to an end soon, as a popular crypto analyst has identified a bullish pattern on the token\u2019s price chart.<\/p>\n

How LINK Price Could Soar 48% To Reach $19<\/h2>\n

Prominent crypto analyst Ali Martinez has shared \u2014 via a post on X<\/a> \u2014 an exciting prognosis on the future trajectory of the Chainlink price. According to the crypto pundit, the cryptocurrency, which has largely struggled, could be set for a price turnaround over the next few weeks.<\/p>\n

The rationale behind this bullish projection is the formation of an inverse head and shoulders pattern on the LINK four-hour price chart. The inverse head and shoulders formation<\/a> is a technical analysis indicator that features a head (a lower low) in between two shoulders (usually a lower low and a higher low).<\/p>\n

This chart formation \u2014 whether in the normal or inverse form \u2014 is a significant indicator for identifying trend reversals. Specifically, the inverse head and shoulder pattern suggests a shift from a bearish to a bullish trend when the price breaks the neckline, an imaginary line that runs through the peaks of the troughs.<\/p>\n

Martinez noted in his post on X that the price of Chainlink could make a run towards the $19 mark over the next coming days. However, the cryptocurrency must break above the neckline<\/a> around the $15 level, as shown in the chart above.<\/p>\n

A rally to the $19 mark would represent an almost 50% price leap from the current price. And a return to this price level would be most welcomed by the altcoin\u2019s investors, having spent the last two months beneath it.<\/p>\n

Chainlink Price At A Glance<\/h2>\n

As of this writing, the Chainlink price has jumped slightly above $13.5, reflecting a 3.6% increase in the last 24 hours. However, this price gain<\/a> is not significant enough to wipe the token\u2019s loss over the past seven days.<\/p>\n

According to data from CoinGecko, the LINK token experienced a 3% decline in value in the past week. Nevertheless, the cryptocurrency still ranks among the top 20 largest assets in the sector, with a market cap of more than $8.2 billion.<\/p>","protected":false},"excerpt":{"rendered":"

In recent months, the Chainlink price hasn\u2019t quite been able to replicate the bullish strength it showed at the start of the year. And the past week was a prime example of the coin\u2019s recent struggles, as the bulls failed to completely stamp control over the last seven-day period. However, it appears that the LINK […]<\/p>\n","protected":false},"author":0,"featured_media":3886,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3885","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nAnalyst Says Chainlink Price Could Climb To $19 \u2014 Here\u2019s How - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/it\/analyst-says-chainlink-price-could-climb-to-19-heres-how\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst Says Chainlink Price Could Climb To $19 \u2014 Here\u2019s How - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"In recent months, the Chainlink price hasn\u2019t quite been able to replicate the bullish strength it showed at the start of the year. 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