Chainlink price had a journey of itself in the volatile market. The token is among the top cryptocurrencies, and its blockchain network is known for its global partnerships and collaboration, raising the token’s demand. However, the volatility and unpredictability remained, especially as Donald Trump’s tariff news put bearish pressure on these digital assets.
Interestingly, analysts believe that the token is moving towards a bullish trajectory. As a result, the LINK price could surge by 35%. How? Let’s discuss this.
Chainlink Price Surged 6% Today Before Declining
After bearing a significant downtrend and losing 15% of its value over the month, the LINK price chart presents the recovery potential. Just today, the token surged 6%, reaching a high of $14.36 earlier in the day.
Interestingly, this surge came amid the global crypto market recovery. However, it failed to last long as investors became fearful of today’s Donald Trump tariff announcement. It currently trades at $13.65 and has a market capitalization of $8.96B.
Regardless, the 40% surge in its 24-hour trading volume reveals high investor interest, which could cater to further LINK recovery.
Chainlink Price Prediction: Why 35% Rally Next?
Experts believe the new Tariff outcome could bring volatility, affecting the prices of Bitcoin and other digital assets. This includes the LINK token, but the technical chart shows the formation of a symmetrical triangle pattern, hinting at the upcoming price rally.
The symmetrical triangle is a famous bullish technical indicator, revealing a breakout formation after the consolidation. At present, the LINK price is at $13.64, which is near the apex, and the pattern reveals the breakout possibility.
Crypto analyst Ali Martinez’s X post reveals a 35% breakout is imminent if the token moves up from the breakout point with a substantial trading volume. With that, the Chainlink price prediction opens the possibility for a rally to $21 or higher.
Chainlink LINK is consolidating in a triangle pattern, potentially setting up for a 35% price move. A breakout could be imminent. Watch closely!
However, this is just an anticipation and requires bullish confirmation. If the price moves down the support, it could invalidate the breakout possibility.
The post After 6% Rally Today, Chainlink (LINK) Price is Aiming At 35% Surge, Here’s Why appeared first on CoinGape.