{"id":12669,"date":"2024-06-17T10:35:52","date_gmt":"2024-06-17T05:05:52","guid":{"rendered":"https:\/\/cryptoofficiel.com\/?p=12669"},"modified":"2024-06-17T10:35:56","modified_gmt":"2024-06-17T05:05:56","slug":"chainlink-link-on-verge-of-explosive-growth-analyst-warns-of-breakout","status":"publish","type":"post","link":"https:\/\/cryptoofficiel.com\/news\/chainlink-link-on-verge-of-explosive-growth-analyst-warns-of-breakout\/","title":{"rendered":"Chainlink (LINK) on Verge of Explosive Growth, Analyst Warns of Breakout"},"content":{"rendered":"\n

After a phase of consolidation, Chainlink (LINK), the oracle network driving decentralized applications (dApps), is displaying signs of a potential breakout. This bullish sentiment is emerging alongside a broader recovery in the cryptocurrency market, with Bitcoin reclaiming its position above the crucial $65,000 support level.<\/p>\n\n\n\n

Technical Indicators Flash Green<\/h4>\n\n\n\n

Renowned crypto analyst Jonathan Carter is among those bullish on LINK\u2019s future. \u201cChainlink\u2019s price structure is forming a bullish pattern,\u201d Carter noted, highlighting the token\u2019s recent rebound from the middle line of a descending channel.<\/p>\n\n\n\n

A decisive break above the 200-day moving average, currently around $16, could propel LINK towards a resistance zone near $25, according to Carter\u2019s analysis. This potential price surge is further bolstered by various technical indicators, suggesting that LINK is primed for upward momentum.<\/p>\n\n\n\n

#LINK<\/a>

ChainLink is showing a bullish structure by bouncing off the middle line of a descending channel\ud83e\uddd0

A breakout above the MA 200 (around $16) could push price towards the resistance zone near $25\ud83c\udfaf
pic.twitter.com\/SmlGnbHkku<\/a><\/p>— Jonathan Carter (@JohncyCrypto) June 14, 2024<\/a><\/blockquote>