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LINK price prediction: What's the next target for the altcoin?
The price of Chainlink (LINK) initially declined after encountering long-term resistance at $18 during the week of December 4-10, 2023 (indicated by the red arrow). However, the downside momentum failed to push the price below the crucial support level of $12.7. This indicates strong buying interest from the bulls during minor corrections. It also suggests that the bulls are anticipating another price hike. As a matter of fact, the price of altocin rose above the $18 resistance level last week. Thus, he pointed out that the bullish trend has continued since September 2023.
Meanwhile, the weekly RSI (Relative Strength Index) broke above the descending divergence trendline. Also, it shows an upward trend. Therefore, it supports the possibility of further earnings for LINK. Therefore, it is possible that LINK could make a move towards the next long-term resistance level at $28. This means an increase of more than 50% for the altcoin.
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