Widely followed crypto analyst Rekt Capital thinks the decentralized oracle network Chainlink (LINK) is primed to continue its recovery.
Rekt Capital tells his 352,300 followers on the social media platform X that LINK respected its range-high resistance after it surged in price in July.
LINK dropped to a recent low of $5.76 on September 11th, which the crypto analyst notes is around the asset’s range-low support.
LINK has since surged by nearly 18% from that recent low and is trading at $6.79 at time of writing. Rekt Capital predicts that LINK “should be able to revisit the range-high resistance” around $8.186, which would be an additional 20.5% increase.
Source: Rekt Capital/X
The analyst also says Dogecoin (DOGE) respected its channel resistance in July and August.