How Chainlink’s (LINK) 22% rally could be just the start

How Chainlink’s (LINK) 22% rally could be just the start

Despite a slight pullback in Bitcoin and Ethereum prices, Chainlink remains strong. With a 22% rally in the last week and 4.1% on the daily chart, LINK stands as one of the biggest gainers in the top 10, trading at $33.07, at the time of writing.

LINK on a bullish trend in the 24-hour chart. Source: LINKUSDT Tradingview

From the traders’ perspective, LINK’s price structure is highly bullish. After a sideways movement over the past few weeks, the cryptocurrency has managed to break a major resistance barrier at $32.

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Trader Michaël van de Poppe stated that LINK has bottomed out in the LINK/BTC trading pair. Strengthening the thesis that LINK’s gains will extend further, the trader set support at 0.0004 sats and a possible 253% increase to 0.0017 sats if LINK breaks through its higher resistance levels.

Source: Michaël van de Poppe

On the LINK/BTC pair, trader “Jon” said:

Officially broke out from the massive downtrend line dating back

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