- Altcoin LINK flashes most brutal bull pattern of the year.
- Chainlink price chart prints triangular fakeout.
- Could the asset pull a 200% pump once again?
The altcoin and Chainlink community kicks off the new week with heightened expectations for continued bullish momentum on the LINK price chart. As the price of LINK inches closer to the $10 price range, experts debate possible next moves. Presently, altcoin LINK flashes most brutal bull pattern of the year. Could the aftermath of this pattern lead to the price of LINK to pull off a 200% pump once again?
Altcoin LINK Flashes Most Brutal Bull Pattern of the Year
According to CoinMarketCap analytics, the price of LINK is currently trading in the $9.38 price range, showing that the asset went up by 0.15% in the last 24 hours. Over the last few days the price of LINK was trading at the $8 price range and recently surged to trade closer to the $10 price range. Now, analysts are speculating a possible retracement, possibly to the previous $6 price range for a true bottom price setup.
Over the last few weeks, since LINK was trading in the $6 price range, analysts have been debating the possibility for the popular altcoin asset to have possibly already set its bear market bottom price. The fact that the price of LINK pumped to almost $10 supports this expectation. However, some analysts believe that a final dump could bring LINK back up to set an even lower bottom before a true bullish surge can begin.
Could the Asset Pull a 200% Price Pump Once Again?
Presently, the former theory seems to be more popular, as analysts highlight how LINK has been outperforming and has broken above the $8.9 horizontal. The Standard Chartered seems to have given the asset greater strength, leading to s surge in price as more traders chose to accumulate the asset. Despite the action now, LINK bulls need to hold the $8.9 level going forward to keep the move going.
The analyst from the post above calls LINK an opportunity of a lifetime and expects the asset to rise up to hit bull targets of $10 and $15 over the next two months. He says that LINK is breaking out upwards, and is showing massive bullish divergence on the 3 day, 1 week and 1 day price charts indicating that there’s more upside to come. Meanwhile, another expert highlights LINK flashing the most brutal bull pattern of the year.
As the post above explains, LINK has printed a triangular fakeout on its price chart. The last time this same pattern was printed, the price of LINK pulled off a bullish pump of over 206.88%. Could the asset pull off a brutal comeback and remind the space why LINK was once one of the largest coins in the market? The significance of the assets’s current pump could indicate the altcoin ending a 4-year long downtrend.
