Crypto currency analyst Ali Martinez has suggested that Chainlink (LINK) could soon take a step higher. The popular crypto currency analyst made statements about the altcoin. Here are expert views on the crypto currency!
Resistance Level in LINK
Ali Martinez, through social media platform X, told his followers that the decentralized oracle network Chainlink could break a significant resistance level and rise to $26.87. The senior analyst stated:
Chainlink is facing stiff resistance between $19.40 and $20.03, where 5,330 addresses hold over 8.59 million LINK. However, if LINK can overcome this supply wall, the next critical resistance area will be around $26.87, representing a 38% price increase!
Investors are tracking LINK’s In/Out of the Money Around Price (IOMAP), a measure that helps determine support and resistance levels for a particular crypto currency. Additionally, some crypto currency analysts also share Ali Martinez’s bullish expectations for Chainlink. Analyst known as Rekt Capital believes Chainlink is on an uptrend but suggests it could fall to retest support levels before continuing to rise. The expert stated:
The breakout is confirmed. Any drop towards the top of the reaccumulation range, if it occurs, will likely act as a retest attempt before the trend continues further.
Expectations of a Rise in LINK
Analyzing the data of the crypto currency, the analyst suggests that LINK will continue to move higher, consolidate for a while, and then proceed to the next leg. At the time of writing, Chainlink had seen a drop of more than 3% in the last 24 hours, trading at $18.40. Crypto currency analyst Ali Martinez forecasts that Chainlink (LINK) could rise to $26.87. Other analysts share a similar view, but some note the need for a retest of support levels. In the last 24 hours, LINK has seen a drop of more than 3%, trading at $18.40.
