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Breaking News: Tether Faces Downgrade By S&P Global Amid Concerns Over Disclosure And Assets Holdings

LINK Price Breaks Above $15 With 33% Rally – Is $18 The Next Stop?

Opeyemi Sule
Opeyemi Sule
Last Updated: November 11, 2023 12:13 pm
3 mins read
SUI Price

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LINK price has undoubtedly been one of the major highlights of the cryptocurrency market in 2023. Over the past week, the cryptocurrency maintained its recent positive momentum, reaching a new yearly high of $15.8 on Thursday, November 9. 

A crypto analyst and trader who predicted this latest bullish run has offered more insight on what to expect from the Chainlink token.

What’s Next For LINK Price?

A crypto analyst with the pseudonym Mags took to X (formerly Twitter) to share an interesting update on the LINK price action. While referring to their initial analysis, the crypto analyst predicted the likely movement of Chainlink’s price over the coming days.

$LINK broke out and went vertical without any re-test as said in my previous update!

Expecting a one more leg up till $18 before any HTF pullback!

+88% since breakout 🔥

won’t recommend any new entires if you were not positioned already https://t.co/NtSmbdriGi pic.twitter.com/jq5S3CLtR1

— Mags (@thescalpingpro) November 11, 2023

In the October 22 analysis, Mags highlighted that the price of LINK had broken out of a 512-day consolidation wedge. The crypto trader then forecasted a straight rally to $12.54, a level the altcoin had surpassed earlier this week.

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From the current standpoint, Mags believes that the LINK price will continue its “vertical” upward run without any re-test. “Expecting one more leg up till $18 before any HTF pullback,” the crypto analyst postulated in their post on X.

As of this writing, the LINK token is valued at $15.06, reflecting more than a 3.6% price increase in the past 24 hours. While the altcoin’s price has been moving mostly sideways in the last few days, it has maintained most of its gains in the past week.

According to data from CoinGecko, the Chainlink token has swelled by more than 33% over the past seven days. This figure underscores the altcoin’s position as one of the best performers in the crypto market over the last few months.

Chainlink’s Whale Activity Hits Six-Month High

A recent on-chain data report by blockchain analytics firm Santiment revealed that whale activity on the Chainlink network had hit its highest level in six months. Interestingly, the network is not alone in this trend, as other blockchains, including Bitcoin, Ethereum, and Cardano, have also experienced a similar spike in whale activity.

LINK Price

Chainlink whale activity surges to six-month high | Source: Santiment/X

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As Santiment noted, while there might be some profit-taking amongst the whales at the conclusion of the week, this does not necessarily mean that tops are imminent. Hence, the analytics firm’s revelation somewhat strengthens the case of a continuous upward movement for the LINK price.

LINK Price

Chainlink price slips below $15 on the daily timeframe | Source: LINKUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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