- Chainlink (LINK) Price Holds $23 Despite Market Volatility
- Technical analysis suggests a potential breakout toward $26.
- Strong buyer support and volume signal bullish momentum.
Chainlink (LINK) continues to demonstrate remarkable resilience, maintaining its critical $23 support level despite ongoing market turbulence. The latest analysis from More Crypto Online highlights a weekly chart showcasing LINK’s stability, with technical indicators suggesting a potential upward trajectory. The chart, featuring an Elliott Wave pattern, points to a corrective wave (ii) followed by a bullish wave (iii), indicating that LINK could be gearing up for a significant breakout. This resilience is particularly notable given the broader crypto market’s recent 6.73% decline in total market capitalization over the past week, as reported by Coinbase.
Investor Confidence Reflected in Strong Buyer Support
The current price action, with LINK hovering near $23, reflects strong buyer support, a trend echoed by traders stepping in during dips. The ascending triangle pattern and increasing volume on up-moves further bolster the bullish outlook, with analysts eyeing a potential move toward $26 or higher in the near term.
This stability underscores Chainlink’s reputation as a quality asset capable of weathering storms, a sentiment shared across the crypto community on platforms like X. Enthusiastic responses, including the iconic “HOLD” meme, signal growing confidence among investors.
Community Sentiment Backs LINK’s Strength
For those considering LINK, its robust fundamentals—driven by its role as a leading oracle network—combined with this technical strength, make it a standout in the current market. As volatility persists, keeping an eye on the $23 level will be key, with a break above $26 potentially signaling the start of a major wave 3 bull run. Stay tuned for further updates as Chainlink continues to defy the odds.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
