Cryptocurrency expert Ali Martinez shared valuable insights into the growth potential of Chainlink (LINK), a well-known blockchain oracle network. Martinez, who has a wide following on the social media platform, recently highlighted that the Tom DeMark (TD) Sequential indicator is suggesting a possible increase in the price of LINK.
This indicator is often used by traders to predict price reversals when detecting exhaustion in current trends. According to Martinez’s analysis, Chainlink could experience an increase of approximately 12% from its current price if it remains above a crucial support level.
If LINK remains above the $13.87 support, we could see a strong recovery to $15.50,” explained Martinez. At the time of his statements, Chainlink was trading at $13.90, which indicates that it is on the edge of the aforementioned support level.
The TD Sequential is flashing a buy signal on the #Chainlink 12-hour chart! If $LINK stays above the $13.87 support, we could see a strong rebound to $15.50. pic.twitter.com/BJgvEtzUho
— Ali (@ali_charts) April 28, 2024
Despite these concerns, LINK’s past performance since June 2023 shows growth from less than $5 to a peak of approximately $22 last month, highlighting a still latent potential in the cryptocurrency.
At the time of publication, the price of LINK was quoted at US$13.13, down 6.6% in the last 24 hours.
Disclaimer:
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 in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/chainlink-link-apresenta-potencial-de-alta-analise-revela-sinais-de-rally/
