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June 15, 2024
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Chainlink Strengthening Against Bitcoin; Here Are Some Bullish Targets for the LINK Price!

The post Chainlink Strengthening Against Bitcoin; Here Are Some Bullish Targets for the LINK Price! appeared first on Coinpedia Fintech News

Chainlink was one of the most optimistic tokens in the markets as it underwent a prolonged consolidation below the crucial resistance at $9. Despite multiple attempts, the LINK price failed to surpass these levels, resulting in a strong rejection of the lows. However, the recent rebound displayed huge strength in the bulls, resulting in a rise beyond $11. Besides, LINK/BTC also soared above 0.0003023 BTC, growing stronger against Bitcoin. 

The popular token just surpassed the area of historical resistance, confluent with the monthly macro downtrend. Just before the jump, the whales began to accumulate LINK heavily, which indeed hinted towards a massive pump. A popular analyst, Johnny, predicts the next course of action for LINK/USDT and LINK/BTC pairs. 

The Chainlink price broke above the 550+ day range and is consolidating above the gains. It seems that the bulls are accumulating strength at present. Hence, a breakout appears to be imminent in the coming days. As per the analyst, the LINK/USDT pair is primed to break above the current yearly highs and rise beyond $14 before the end of the month. Further, considering the LINK/BTC pair, the analyst believes it is ready to outperform Bitcoin after breaking out of a 100+ day downtrend. 

With the latest bullish move, the analyst now appears confident of a 20% upswing to reach 0.0004 BTC. After consolidating along these levels for a while, a 200% upswing could lift the pair towards 0.0009 BTC. Chainlink was the first mover to start the previous bull run in 2021, and hence history could repeat itself as the markets appear to be closer to triggering a bull run soon.

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