Chainlink price hits new all-time high target at $23.7 and aims for $30


  • Chainlink price has hit its target but aims for even more amid bullish momentum.
  • The digital asset had a massive breakout towards $23.7 hitting a new all-time high.

Chainlink was trading inside a daily ascending parallel channel before a massive breakout on January 15 that pushed the digital asset to its new all-time high of $23.7. After a brief consolidation period, LINK is ready for another leg up.

Chainlink price now aims for $30 

The breakout of the ascending parallel channel had a price target of $24 and Chainlink hit $23.7. The digital asset retraced back to $20.37 and it’s ready to resume its uptrend with another leg up. 

link price

LINK/USD daily chart

It seems that LINK’s next leg up could drive its price towards $30 as there is very low resistance above. The In/Out of the Money Around Price (IOMAP) chart shows only one crucial resistance area between $21.44 and $22 but nothing ahead of it. 

link price

LINK IOMAP chart

However, the IOMAP model also indicates that there is low support on the way down. The next significant support level would be the previous resistance trendline at $18 which means LINK is at risk of falling towards it. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

BREAKING: Ethereum price hits new all-time high above $2,550

Ethereum price just had a breakout above the previous all-time high at $2,548 and faces no resistance ahead. The digital asset has been outperforming the market for the past two days and it's leading the other coins. The next most significant price target for ETH will be $3,000. 

More Ethereum News

Cardano could slip to a two-month low if key level cracks

Cardano has been trading somewhat sideways for the past two months and established a massive resistance trendline around $1.5. The digital asset could be on the brink of a significant leg down if bulls can’t hold key support level.

More Cardano News

Bitcoin hints at following ETH’s explosive rally, XRP indecisive

Bitcoin price seems to be coiling up for an upswing as it trades around a crucial support level. Ethereum, on the other hand, has already seen a massive run-up that might retest its local top. Unlike BTC or ETH, XRP shows signs of a drop from a technical perspective.

More Bitcoin News

Dogecoin loses momentum, but upswing could still evolve

Dogecoin price crashes 35% after the hyped “dogeday420” fails to gather steam. Despite losing its upswing momentum, the meme coin could still surge if it bounces off the immediate demand. On-chain metrics point to a grim outlook for DOGE.

More Dogecoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Institutional wave of BTC adoption follows new all-time highs

Bitcoin price hitting a new all-time high and Coinbase’s direct listing are perhaps two of the most important developments surrounding the pioneer cryptocurrency over the past week.

Read the weekly forecast

BTC

ETH

XRP