Chainlink Price Could Run To $31 In The Next Leg Up — Here’s Why
Summary
The altcoin market is experiencing a downturn, with Chainlink's price declining over 50% in three months. Despite this, a crypto analyst predicts a potential rise to $31 for the LINK token, based on a falling wedge pattern observed in its daily price chart. This pattern suggests a possible trend reversal if the price breaks above the upper trendline. Currently, LINK is around $14, reflecting a 2% increase in the last 24 hours. Additionally, over 640,000 LINK tokens have exited centralized exchanges recently, indicating reduced selling pressure and supporting the bullish outlook. This outflow may be linked to a quarterly token unlock that released 19 million LINK tokens.
