Bit360
08/07 08:00
LINK Price Targets $46 if $13 Support Level Holds
LINK Price Targets $46 if $13 Support Level Holds Strong
- Chainlink trades above key $13 support within an ascending channel.
- Fibonacci levels suggest targets at $21, $27, $38, and $46.
- Swapfone integration enhances LINK’s utility and market position.
Chainlink (LINK) is showing bullish technical signals that suggest potential for long-term price growth. Analyst Ali Martinez’s analysis indicates that LINK has been trading within a clear ascending channel since late 2023.
Martinez highlighted that the $13 level is acting as a crucial support zone. As long as LINK stays above this support, the chart structure suggests a path toward $46. The analysis uses Fibonacci extension levels, identifying key resistance points at $21, $27, and $38 before reaching the upper target.
At the time of Martinez’s analysis, LINK was trading at $14.66 and consolidating above the 0.618 Fibonacci retracement level, which is seen as a positive technical signal.
Martinez stated that continued bullish momentum and the preservation of the $13 support zone could gradually allow LINK to climb toward the projected highs over the next year.
Chainlink Integration with Swapfone Mainnet
On August 5, Swapfone announced it had integrated Chainlink technology into its mobile blockchain mainnet. This move aims to boost the platform’s transparency and data reliability through Chainlink’s decentralized oracle services.
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