Cryptocurrency Chainlink (LINK) recorded a mini breakout during this weekend and reached a price peak, according to an analysis by renowned analyst, Ali Martinez, shared on January 15.

According to recent analysis, Chainlink managed to reach the $15.82 price level for the first time in the span of two weeks. Furthermore, the analyst noted that the amount of wallets with more than 0 number of LINK coins is within 6% of its All Time High.

“Chainlink had a mini breakout this weekend, hitting $15.82 for the first time in 2 weeks. The supply of $LINK on exchanges is below 15% for the first time in ~4 years, and the amount of >0 coin wallets is within 6% of its All Time High,” he wrote.

At the time of publication, Chainlink price was priced at $15.74 up 4.8% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$745,535,500. LINK has seen an appreciation of 16.2% in its price in the last seven days.

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In a recent analysis, cryptocurrency analyst Ali Martinez shared the crucial price range for the cryptocurrency to record highs soon.

Regarding Chainlink’s price movement, the analyst noted that the cryptocurrency’s TD Sequential presented a buy signal on the 12-hour chart, while the token was trading around the lower boundary of a parallel channel, according to the analysis.

“TD Sequential presents a buy signal on the 12-hour chart, while LINK trades around the lower boundary of a parallel channel. If validated, $LINK could recover to $15.2 or $17.3,” he wrote.

After a turbulent year for the cryptocurrency sector, marked by scandals, collapses and legal battles, 2023 has shown signs of recovery. Despite facing these challenges, some cryptocurrencies have gradually started to recover.

Looking ahead to 2024, many experts are optimistic, indicating that it could be a promising year for the crypto industry. This optimism is supported, in part, by the global market value of cryptocurrencies, which on December 20th was US$1.72 trillion, as reported by CoinGecko.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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