Over the past few weeks, Chainlink (LINK) has seen a major price correction. Although the asset is up by 11.3% in the weekly charts, it is down by 3.3% in the 24-hour charts, 12.6% in the 14-day charts, and 18.8% over the previous month. LINK has maintained some gains since July 2023, rallying 98% in the yearly charts.
Also Read: Top 3 Cryptocurrencies To Watch This Weekend
LINK’s current slump follows the general market bearishness. The German government’s Bitcoin (BTC) selling spree instilled significant fear among market participants.
Chainlink predicted to hit $15.50
There’s a probability that LINK will soon reverse the recent downward trend. LINK may test the crucial supply wall at $14.44 if it stays above $12.52, according to well-known cryptocurrency researcher Ali Martinez. The analyst goes on to say that a rise to $15.50 might result from breaking this level. Attaining $15.50 will result in a roughly 24% increase from the present price levels.
Credit: Source link