Chainlink Price Pushes Higher, Analysts Eye Potential Rally Toward $23
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Chainlink (LINK) price has increased since January 3, validating a long-term support trend line. Price is approaching the top of a 70-day trading range.
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The bounce caused the Relative Strength Index (RSI) indicator to give a positive reading above 50, signaling bullish momentum.
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Crypto analysts on X are largely bullish on LINK, citing long-term accumulation patterns and upside price targets of $18-$23.
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The most likely Elliott Wave count suggests LINK started the fifth wave up from the June bottom, with upside targets of $23 and $30.
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A drop below $12.20 would invalidate the bullish wave count. The price could then fall 47% to support at $8.30.