- Altcoin LINK prints a bullish pennant, drawing attention to its chart.
- The move points to a clean breakout above $12.
- Can the price of LINK set a new ATH this year?
The crypto community grows eager to see explosive price action for altcoins across the crypto market as a majority of these promising altcoins show bullish indicators across their respective price charts. At the moment, the price of several altcoins are already on the rise. In particular, altcoin LINK prints a bullish pennant pointing to a clean breakout above $12. Could Chainlink see a new ATH this year?
Altcoin LINK Prints a Bullish Pennant
According to CoinMarketCap analytics, the price of the popular native altcoin asset of the Chainlink ecosystem, LINK, has been trading on the up and up. In detail, the price of LINK is up by over 36% over the last 30 days. However, over the last 7 days and the last 24 hours, the asset is down by 1.26% and 2.44% respectively. LINK set its ATH in the $50 price range about 5 years ago and will need to pull a pump of over 75% to reclaim this price from here.
Presently, the CMC Fear and Greed Index sits at a score of 72, marking that the crypto market is currently in a sentiment of ‘Greed’. This is a score that’s gone down since last week which indicated ‘Extreme Greed’ sentiments. However, it also marks how in just a month, the sentiments went from ‘Fear’ to ‘Greed’. Analysts expect the positive turn of events to continue and propel Bitcoin and altcoins prices to higher targets.
LINK Price Chart Point to a Clean Breakout Above $12
At the moment, the price of Bitcoin (BTC) is trading in the $77,000 price range while the price of Ethereum (ETH) is trading in the $2,400 price range, showing a slight drop in the prices of both assets over the last 24 hours. Experts predicted that sideways movement may be apparent, led by BTC dropping as low as $71,000. This sideways movement is expected to continue until BTC breaks above $82,000 – $83,000, confirming the start of the bull market.
Currently, several altcoins are pushing nearly completed bullish indicators across their price charts. Among the many bullish altcoin assets in the market at the moment, a handful are gaining more attention than the rest. To highlight, XRP, XLM, NEAR, LINK, SUI, ETH, and a few more altcoins are gaining momentum and inching towards higher price targets. Analysts hope that their collective breakout will trigger a bullish altseason peak phase.
As we can see from the post above, LINK is printing a bullish pennant on its price chart. The expert in the post highlights how after a strong rally, the price of LINK is consolidating near $11 – $12 as sellers weaken and buyers hold the base. A clean breakout above $12 could ignite the next expansion move toward the $15 target. The analyst concludes that the market sentiment is bullish and that this momentum could lead to a massive breakout soon.
