{"id":678481,"date":"2025-01-19T07:30:56","date_gmt":"2025-01-19T07:30:56","guid":{"rendered":"https:\/\/wncen.com\/?p=678481"},"modified":"2025-01-19T07:18:54","modified_gmt":"2025-01-19T07:18:54","slug":"chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst\/","title":{"rendered":"Chainlink (LINK) Bullish Structure Hangs On Key Support Zone – Analyst"},"content":{"rendered":"

In line with the general crypto market, Chainlink (LINK) registered a significant price gain in the last week rising by 20.41% according to data from CoinMarketCap.\u00a0<\/span>Interestingly, X-based market analysts More Crypto Online have rolled out a market condition critical to sustaining this price uptrend.
\n<\/span><\/p>\n

Related Reading: Chainlink Weekly Chart Looks Promising \u2013 If Bulls Reclaim $30 \u2018ATH Are Next\u2019<\/a><\/div>\n

Chainlink Faces Potential Correction<\/strong><\/h2>\n

In a recent X post<\/a>, More Crypto Online shared a cautious technical analysis of the LINK market. Using the Elliott Wave Theory, these analysts have determined Chainlink must stay above $23.85 to preserve its current bullish trend. <\/span>For context, the Elliott Wave Theory is a trading tool used by traders to predict market breeds based on crowd psychology and market cycles.
\n<\/span><\/p>\n

\"Chainlink\"
Source: @Morecryptoonl on X<\/figcaption><\/figure>\n

In price prediction, the Elliott Wave Theory can often present a white scenario i.e. the optimistic bullish case and the yellow wave i.e. an alternative case most likely a correction before an uptrend continues. <\/span>For the LINK market, the white scenario assumes upward movement will continue provided the asset stays over $23.85 which represents a critical support zone.<\/span><\/p>\n

Any price fall below $23.85 could cause a shift in market dynamics, potentially halting Chainlink\u2019s bullish charge. However, there is also potential for a corrective yellow wave. <\/span>In this context, this yellow wave follows as an initial upward movement and represents only a temporary pullback before the trend resumes its bullish trajectory.<\/span><\/p>\n

According to the analysts at More Crypto Online, if LINK dips below $23.85, the corrective wave is expected to occur between $19.26 and $22.39, converting this region to a potential retracement zone for further gains.
\n<\/span><\/p>\n

Related Reading: Chainlink Whales Accumulate $77 Million LINK Amid Price Correction \u2013 Details<\/a><\/div>\n

Chainlink Heading For Major Price Break?\u00a0<\/strong><\/h2>\n

In other news, certain crypto analysts are highly bullish on LINK amidst the asset\u2019s price rally. In an X post<\/a>, market pundit AMCrypto has backed Chainlink to experience massive price gains in February.<\/span><\/p>\n

According to AMCrypto, LINK is currently still in consolidation despite recent gains. The analyst predicts the cryptocurrency will experience more weeks of range-bound movement below $30<\/a>, before executing a major price breakout in February. <\/span>Based on AMCrypto\u2019s forecast, Chainlink is expected to trade as high as $54<\/a> in this projected price surge indicating a potential 125.37% gain on the coin\u2019s current market price.<\/span><\/p>\n

At the time of writing, LINK trades at $23.95 following a 2.75% decline in the past day. On the other hand, the tokens’ trading volume valued at $957.45 million reflects a 13.97% gain in the past day. <\/span>With a market cap of $23.94 billion, Chainlink continues to rank as the 12th largest cryptocurrency in the world.\u00a0<\/span><\/p>\n

\"Chainlink\"
LINK trading at $23.86 on the daily chart | Source: LINKUSDT chart on Tradingview.com<\/a><\/figcaption><\/figure>\n
\n
Featured image from Bitcoinist, chart from Tradingview<\/em><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In line with the general crypto market, Chainlink (LINK) registered a significant price gain in the last week rising by 20.41% according to data from CoinMarketCap.\u00a0Interestingly, X-based market analysts More Crypto Online have rolled out a market condition critical to sustaining this price uptrend. Related Reading: Chainlink Weekly Chart Looks Promising \u2013 If Bulls Reclaim $30 \u2018ATH Are Next\u2019 Chainlink Faces Potential Correction In a recent X post, More Crypto Online shared a cautious technical analysis of the LINK market. Using the Elliott Wave Theory, these analysts have determined Chainlink must stay above $23.85 to preserve its current bullish trend. For context, the Elliott Wave Theory is a trading tool used by traders to predict market breeds based on crowd psychology and market cycles. In price prediction, the Elliott Wave Theory can often present a white scenario i.e. the optimistic bullish case and the yellow wave i.e. an alternative case most likely a correction before an uptrend continues. For the LINK market, the white scenario assumes upward movement will continue provided the asset stays over $23.85 which represents a critical support zone. Any price fall below $23.85 could cause a shift in market dynamics, potentially halting Chainlink\u2019s bullish charge. However, there is also potential for a corrective yellow wave. In this context, this yellow wave follows as an initial upward movement and represents only a temporary pullback before the trend resumes its bullish trajectory. According to the analysts at More Crypto Online, if LINK dips below $23.85, the corrective wave is expected to occur between $19.26 and $22.39, converting this region to a potential retracement zone for further gains. Related Reading: Chainlink Whales Accumulate $77 Million LINK Amid Price Correction \u2013 Details Chainlink Heading For Major Price Break?\u00a0 In other news, certain crypto analysts are highly bullish on LINK amidst the asset\u2019s price rally. In an X post, market pundit AMCrypto has backed Chainlink to experience massive price gains in February. According to AMCrypto, LINK is currently still in consolidation despite recent gains. The analyst predicts the cryptocurrency will experience more weeks of range-bound movement below $30, before executing a major price breakout in February. Based on AMCrypto\u2019s forecast, Chainlink is expected to trade as high as $54 in this projected price surge indicating a potential 125.37% gain on the coin\u2019s current market price. At the time of writing, LINK trades at $23.95 following a 2.75% decline in the past day. On the other hand, the tokens’ trading volume valued at $957.45 million reflects a 13.97% gain in the past day. With a market cap of $23.94 billion, Chainlink continues to rank as the 12th largest cryptocurrency in the world.\u00a0 Featured image from Bitcoinist, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":678499,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[16295,89842,58757,16097,75940,79480],"class_list":["post-678481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-chainlink","tag-chainlink-resistance","tag-elliott-wave-theory","tag-link","tag-linkusd","tag-linkusdt"],"acf":[],"yoast_head":"\nChainlink (LINK) Bullish Structure Hangs On Key Support Zone - Analyst<\/title>\n<meta name=\"description\" content=\"X-based market analysts More Crypto Online have rolled out a market condition critical for Chainlink to sustain its current price uptrend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/chainlink\/chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainlink (LINK) Bullish Structure Hangs On Key Support Zone - 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/wncen.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Chainlink (LINK) Bullish Structure Hangs On Key Support Zone – Analyst","url":"http:\/\/wncen.com\/news\/chainlink\/chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/chainlink\/chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Chainlink.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Chainlink.png?fit=1600%2C900"},"articleSection":"Chainlink","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["chainlink","chainlink resistance","elliott wave theory","link","linkusd","linkusdt"],"dateCreated":"2025-01-19T07:30:56Z","datePublished":"2025-01-19T07:30:56Z","dateModified":"2025-01-19T07:30:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Chainlink (LINK) Bullish Structure Hangs On Key Support Zone – Analyst\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/chainlink\\\/chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/chainlink\\\/chainlink-link-bullish-structure-hangs-on-key-support-zone-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/Chainlink.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2025\\\/01\\\/Chainlink.png?fit=1600%2C900\"},\"articleSection\":\"Chainlink\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"chainlink\",\"chainlink resistance\",\"elliott wave theory\",\"link\",\"linkusd\",\"linkusdt\"],\"dateCreated\":\"2025-01-19T07:30:56Z\",\"datePublished\":\"2025-01-19T07:30:56Z\",\"dateModified\":\"2025-01-19T07:30:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2025\/01\/Chainlink.png?fit=1600%2C900","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/678481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=678481"}],"version-history":[{"count":6,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/678481\/revisions"}],"predecessor-version":[{"id":678528,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/678481\/revisions\/678528"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/678499"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=678481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=678481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=678481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}