Chainlink Price: During the recent downturn in the cryptocurrency market that saw the Bitcoin price drop to $60,000, Chainlink’s price exhibited pronounced volatility, as shown by the significant price fluctuations captured in the daily chart. This consolidation since early February reflected the clear dominance of buyers or sellers.
However, amid the current market recovery, the LINK price rebounded from the $16.25 level, sparking a fresh reversal opportunity among traders.
Also Read: LINK Leapfrogs ADA in Dev Activity, Price Rally to $25 Ahead?
Chainlink Price Rides Steady Rally Within a Channel Pattern
Chainlink Price| Tradingview
The 2024 rally in Chainlink price can be attributed to its movement within a channel pattern, guided by two parallel trendlines. The coin price rebounded several times from this pattern’s boundaries indicating the market participants are strictly following this pattern.
From a year’s low at $12.2, the pattern has underpinned a 63% surge over three mo
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