While Bitcoin attracted attention with its rise exceeding $ 35,000, Solana (SOL) and Chainlink (LINK) also attracted attention among altcoins.
At this point, LINK is up over 60% since October 20th. LINK, which started October at around $8, reached $12 during the month.
While investors were looking for the answer to the question of whether LINK, which has experienced a nice rise, will continue to rise, a LINK post came from popular analysts Ali Martinez and Michael van de Poppe.
Pointing out that Chainlink has broken the ascending triangle on the hourly chart, Martinez said that this break points to a 14% increase that can take LINK to $ 13.
“Chainlink seems to have broken the ascending triangle on the hourly chart. This bullish formation indicates a 14% upside that could push the LINK price to $13.”
#Chainlink appears to have broken out of an ascending triangle of the hourly chart. This bullish formation forecasts a 14% price breakout that could take $LINK toward $13.
Looking to trade the #LINK dip? Head over to @bytradeio and enjoy zero trading fees! Sign up using promo… pic.twitter.com/lnER3UzVBP
— Ali (@ali_charts) October 31, 2023
“It's Time to Buy for LINK!”
Apart from Ali Martinez, analyst Michael van de Poppe also shared a LINK post. Stating that LINK has gone out of the 533-day horizontal movement cycle, Poppe said that it is time to buy for LINK.
Pointing out that LINK's rise has been exhausted at this point, the analyst stated that the short-term resistance points for LINK are 12.5-13 dollars.
Stating that the LINK purchase target is 9.5 – 10 dollars, Poppe said the following for LINK:
“Chainlink has broken out of its 533-day sideways cycle.
Breaking such a strong range says it's time to buy the dips for LINK
The upside for the chain is relatively exhausted at this stage and I think potential short-term resistance levels for LINK are $12.50-$13.00.
We are targeting $9.50-$10.00 to buy the dip on LINK.”
LINK continues to trade at $11.29 at the time of writing.
#Chainlink broke out of a structure of 533 days of sideways action.
Breaking such a strong range -> time to buy the dips.
The upside is relatively exhausted at this stage, targeting $12.50-13.00 for potential short-term resistance.
Targeting $9.50-10.00 to buy the dip. pic.twitter.com/HiC0lXrsz2
— Michaël van de Poppe (@CryptoMichNL) October 31, 2023
*This is not investment advice.
