{"id":361673,"date":"2024-01-03T05:00:31","date_gmt":"2024-01-02T23:30:31","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=361673"},"modified":"2024-01-02T13:59:49","modified_gmt":"2024-01-02T08:29:49","slug":"link-price-rises-5-in-24-hours-is-a-34-prediction-viable","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/link-price-rises-5-in-24-hours-is-a-34-prediction-viable\/","title":{"rendered":"LINK price rises 5% in 24 hours: Is a $34 prediction viable?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">LINK was up by more than 5% in the 24 hours.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Buying pressure was high, and most indicators looked bullish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The year 2024 began on a good note for multiple cryptos, and<\/span> <span style=\"font-weight: 400;\">Chainlink [LINK]<\/span><span style=\"font-weight: 400;\"> was one of them. Notably, a bullish pattern formed on Chainlink\u2019s chart, suggesting an increased possibility of a bull rally.<\/span><\/p>\n<h4><b>Are the Chainlink bulls here?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">In the last 24 hours, Link\u2019s price surged by more than 5%. According to<\/span> <a href=\"https:\/\/coinmarketcap.com\/currencies\/chainlink\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, at the time of writing, LINK was trading at $15.83 with a market capitalization of over $8.9 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amidst that, Ali, a popular crypto analyst, pointed out a bullish pennant pattern being formed on Chainlink\u2019s chart.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\">#Chainlink<\/a> shows signs of a bull pennant formation. A decisive close above $17.2 could be the catalyst for a breakout, potentially propelling <a href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> toward $34. <\/p>\n<p>However, keep an eye on the $14.2 level \u2013 a drop below this could invalidate the current bullish outlook for <a href=\"https:\/\/twitter.com\/hashtag\/LINK?src=hash&amp;ref_src=twsrc%5Etfw\">#LINK<\/a>. <a href=\"https:\/\/t.co\/N9e6peREPn\">pic.twitter.com\/N9e6peREPn<\/a><\/p>\n<p>&mdash; Ali Charts (@alicharts) <a href=\"https:\/\/twitter.com\/alicharts\/status\/1741923247334011252?ref_src=twsrc%5Etfw\">January 1, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">If LINK managed to go above the resistance level at $17.2, its price might soon touch $34. However, if that does not happen, then investors must also keep an eye on the $14.2 level, as if LINK falls below it, its value might plummet further.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> To check whether this was true, AMBCrypto had a look at LINK\u2019s liquidation heatmap. Our analysis revealed that<\/span> <a href=\"http:\/\/ambcrypto.com\/chainlink-whales-move-towards-link-as-prices-fall-what-next\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">LINK<\/span><\/a><span style=\"font-weight: 400;\"> does face a key resistance zone near $17. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Apart from that, two other levels of whether LINK might witness high liquidations again were near $15.7 and $15.<\/span><\/p>\n<figure id=\"attachment_361676\" aria-describedby=\"caption-attachment-361676\" style=\"width: 1482px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/newplot-3.png\"><img decoding=\"async\" class=\"wp-image-361676 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/newplot-3.png\" alt=\"\" width=\"1482\" height=\"736\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/newplot-3.png 1482w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/newplot-3-300x149.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/newplot-3-1024x509.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/newplot-3-768x381.png 768w\" sizes=\"(max-width: 1482px) 100vw, 1482px\" \/><\/a><figcaption id=\"caption-attachment-361676\" class=\"wp-caption-text\">Source: Hyblock Capital<\/figcaption><\/figure>\n<h4><b>What to expect from LINK in 2024<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Though there were a few resistance levels to overcome, buying pressure on the token remained high. This was evident from the fact that Chainlink\u2019s Supply of Exchanges dropped last week. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This happened while its Supply outside of Exchanges shot up, signifying high buying pressure. Nonetheless, there was not much whale activity around the token as its supply held by the top address graph remained flat last week.<\/span><\/p>\n<figure id=\"attachment_361677\" aria-describedby=\"caption-attachment-361677\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024.png\"><img decoding=\"async\" class=\"wp-image-361677 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/ChainLink-on-Ethereum-LINK-12.13.38-02-Jan-2024-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-361677\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">To better understand whether Chainlink will be able to go above the $17.2 resistance zone, AMBCrypto checked LINK\u2019s daily chart. We found that<\/span> <a href=\"http:\/\/ambcrypto.com\/chainlink-is-another-rally-in-the-works-for-link\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">LINK<\/span><\/a><span style=\"font-weight: 400;\">\u2019s Relative Strength Index (RSI) registered an uptick from the neutral mark at press time. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here&#8217;s<\/span> <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">LINK market cap in BTC&#8217;s terms<\/span><\/a><span style=\"font-weight: 400;\">\u00a0 \u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Its Money Flow Index (MFI) also followed a similar route, increasing the chances of a continued northward price movement over the days to come.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the Chaikin Money Flow (CMF) flashed concerning signals, as it went down during this period. Considering the aforementioned metrics and indicators, it will be interesting to see whether Chainlink reaches $34 anytime soon.<\/span><\/p>\n<figure id=\"attachment_361679\" aria-describedby=\"caption-attachment-361679\" style=\"width: 1544px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06.png\"><img decoding=\"async\" class=\"wp-image-361679 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06.png\" alt=\"\" width=\"1544\" height=\"791\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06.png 1544w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06-300x154.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06-1024x525.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06-768x393.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/LINKUSDT_2024-01-02_12-16-06-1536x787.png 1536w\" sizes=\"(max-width: 1544px) 100vw, 1544px\" \/><\/a><figcaption id=\"caption-attachment-361679\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>A bullish pattern was formed on Chainlink\u2019s chart, suggesting a possible price uptick.<\/p>\n","protected":false},"author":75,"featured_media":361680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[410],"class_list":["post-361673","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-link"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>LINK price rises 5% in 24 hours: Is a $34 prediction viable? 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