Technical Analysis Shows Promise<\/strong><\/h2>\nAccording to new technical examinations, Chainlink is currently trading at $14.10, but a rise may be around the corner. It has been going down since it climbed recently. However, a well-known crypto expert, Ali Martinez, has seen a pattern form on the 4-hour chart that may just turn things around in LINK’s favor.<\/p>\n
\n#Chainlink<\/a> appears to form a head-and-shoulders pattern on the 4-hour chart. A sustained close above $14.7 could send $LINK<\/a> to $18.3! pic.twitter.com\/v566HWIIrR<\/a><\/p>\n\u2014 Ali (@ali_charts) July 21, 2024<\/a><\/p><\/blockquote>\nUsually, this pattern – called the head and shoulders – indicates a negative trend reversal. Martinez points out, nevertheless, a major discrepancy in this situation.<\/p>\n
There are three peaks in the head-and-shoulders configuration; the centre peak\u1173the head\u1173is tallest. The two adjancent peaks\u1173the shoulders\u1173have almost the same elevation.<\/p>\n
![\"\"](\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/07\/a_0f0499.png?resize=1024%2C680\")
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Usually, a decline below the neckline\u1173which right now is at $14.63\u1173would indicate a bearish change. Martinez advises, however, that Chainlink may ward off these negative consequences by keeping a price over $14.70, thereby paving the ground for a significant price rise to $18.3.<\/p>\n
Chainlink (LINK) Price Projection<\/strong><\/h2>\nBased on the most recent analysis by CoinCheckup, Chainlink is selling around 90% below its projected value for next month. This notable undervaluation implies that LINK is presently going through a period of reduced price in relation to its expected future worth.<\/p>\n![](\"https:\/\/www.tradingview.com\/x\/o3DWQ0p2\/\")
LINK is currently trading at $14.09. Chart: TradingView<\/a><\/figcaption><\/figure>\nTechnical signs and market circumstances point to a positive future with projections of a 35% rise over the next three months.<\/a> This expected increase suggests a possible trend of stabilisation and recovery.<\/p>\nLonger-term forecasts seem much more positive. Forecasts of a 140% rise over the following six months reflect significant positive momentum and a potential recovery trend. The one-year projection of the platform supports this encouraging view even more by implying a 76% increase at the end of the year.<\/p>\n![\"\"](\"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/07\/a_936f2a.png?resize=1024%2C230\")
Source: CoinCheckup<\/a><\/figcaption><\/figure>\nSuch forecasts highlight Chainlink’s prospects for significant appreciation, which makes it an interesting choice for those looking for long-term profits.<\/p>\n
Market Conditions And Levels Of Resistance<\/strong><\/h3>\nMore general market dynamics have shaped Chainlink’s recent pricing swings. Over the weekend, the market for cryptocurrencies showed modest volatility marked by a neutral candlestick development in Bitcoin.<\/p>\n
#Chainlink<\/a> appears to form a head-and-shoulders pattern on the 4-hour chart. A sustained close above $14.7 could send $LINK<\/a> to $18.3! pic.twitter.com\/v566HWIIrR<\/a><\/p>\n \u2014 Ali (@ali_charts) July 21, 2024<\/a><\/p><\/blockquote>\n Usually, this pattern – called the head and shoulders – indicates a negative trend reversal. Martinez points out, nevertheless, a major discrepancy in this situation.<\/p>\n There are three peaks in the head-and-shoulders configuration; the centre peak\u1173the head\u1173is tallest. The two adjancent peaks\u1173the shoulders\u1173have almost the same elevation.<\/p>\n Usually, a decline below the neckline\u1173which right now is at $14.63\u1173would indicate a bearish change. Martinez advises, however, that Chainlink may ward off these negative consequences by keeping a price over $14.70, thereby paving the ground for a significant price rise to $18.3.<\/p>\n Based on the most recent analysis by CoinCheckup, Chainlink is selling around 90% below its projected value for next month. This notable undervaluation implies that LINK is presently going through a period of reduced price in relation to its expected future worth.<\/p>\n Technical signs and market circumstances point to a positive future with projections of a 35% rise over the next three months.<\/a> This expected increase suggests a possible trend of stabilisation and recovery.<\/p>\n Longer-term forecasts seem much more positive. Forecasts of a 140% rise over the following six months reflect significant positive momentum and a potential recovery trend. The one-year projection of the platform supports this encouraging view even more by implying a 76% increase at the end of the year.<\/p>\n Such forecasts highlight Chainlink’s prospects for significant appreciation, which makes it an interesting choice for those looking for long-term profits.<\/p>\n More general market dynamics have shaped Chainlink’s recent pricing swings. Over the weekend, the market for cryptocurrencies showed modest volatility marked by a neutral candlestick development in Bitcoin.<\/p>\n<\/p>\nChainlink (LINK) Price Projection<\/strong><\/h2>\n
Market Conditions And Levels Of Resistance<\/strong><\/h3>\n