{"id":246636,"date":"2024-02-13T19:53:13","date_gmt":"2024-02-13T14:23:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/chainlink-price-prediction-as-buyers-escape-22-months-accumulation-crypto-news\/"},"modified":"2024-02-13T19:53:16","modified_gmt":"2024-02-13T14:23:16","slug":"chainlink-price-prediction-as-buyers-escape-22-months-accumulation-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/chainlink-price-prediction-as-buyers-escape-22-months-accumulation-crypto-news\/","title":{"rendered":"Chainlink Price Prediction As Buyers Escape 22-Months Accumulation – Crypto News"},"content":{"rendered":"

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Chainlink Price Prediction: The Chainlink (LINK) price<\/a> recently experienced a significant rebound, climbing 23% from a local support level of $18 to currently trade at $20. This resurgence in value is backed by a noticeable increase in trading volume and a steady rise in network activity. Notably, the price recovery surpassed the neckline resistance of a cup and handle pattern, hinting at the possibility of further gains.<\/span><\/p>\n

Also Read: Can Massive Whale Accumulation Fuel Chainlink Price Rally to $30?<\/a><\/p>\n

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Can Chainlink Price Sustain Above $20?<\/b><\/h2>\n

In late January, Chainlink<\/a> entered a recovery phase, with its price bouncing back from $13.50. This positive momentum led to a 46.7% increase in the LINK price over three weeks, hitting the $20 mark for the first time in 2 years. A closer look at the higher time frame charts revealed that this uptrend recently overcame the $17.5 neckline resistance of a long-term cup and handle pattern.<\/span><\/p>\n

Such a pattern development is often viewed as a preliminary indicator of a downtrend reaching its bottom, offering traders a fresh entry point<\/span><\/p>\n

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Moreover, an analysis of Intotheblock\u2019s content partner @EkponoAkwaowo highlighted that the Chainlink ($LINK) has hit a 22-month peak, surging by 11% to break the $20 threshold. The rise in $LINK\u2019s<\/a> value coincides with a notable uptick in the network activity, including both an increase in active addresses and the creation of new ones.\u00a0<\/span><\/p>\n

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$LINK<\/a> hits a 22-month high as it surges by 11% breaking the $20 mark for the first time in years!<\/p>\n

Also, there\u2019s an increase in active addresses and creation of new addresses with noteworthy whale activity as a specific player goes on a buying spree. <\/p>\n

\ud83d\udcc8https:\/\/t.co\/71uoZqSKH5<\/a> pic.twitter.com\/vW7XBaAucI<\/a><\/p>\n

\u2014 champagne mami \ud83d\udc95 (@EkponoAkwaowo) February 12, 2024<\/a><\/p>\n<\/blockquote>\n

This activity has been highlighted by significant whale transactions, suggesting a concentrated buying spree by large stakeholders. If this trend continues, the Chainlink price could potentially increase by another 50%, reaching a target of $30. Nevertheless, this ascent is expected to include brief periods of retracement as the asset consolidates its gains before continuing its upward trajectory.<\/span><\/p>\n

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Also Read<\/strong>: Here\u2019s Why Chainlink (LINK) Price Is Set for Another Leap in Feb<\/a><\/p>\n

Technical Indicator<\/b><\/h2>\n