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Chainlink ‘Ready To Breakout’: Analyst Eyes $50 Target Amid Whale Accumulation

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Chainlink ‘Ready To Breakout’: Analyst Eyes $50 Target Amid Whale Accumulation - NewsBTC

Quick Summary:

The analyst previously stated that Chainlink’s weekly chart was "slowly turning into a true thing of beauty” after the "painful retest” and holding the key level "firmly.” Related Reading: Ethereum Recovers From Drop Below $3,000: Analyst Points At 2021 Rally Similarities Jelle pointed out that LINK turned the $18-20 resistance zone into support after the recent retrace and rebound.

Altcoin Sherpa signaled that LINK could likely see a "V shape reverse up” following the recovery from the recent market "nuke.” On Thursday, Crypto analyst Ali Martinez highlighted that whales have "heavily accumulated” LINK in the last few days.

LINK attempted to retest the $25 resistance zone during the start-of-year run but retraced during the recent market corrections, driving the price to $18, its lowest level in over a month.


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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-17 @ 08:00:44 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 452 words

Reading Time: 3 minutes read

Sentences: 76 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 25215639

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 11 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #102

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