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BTCC / BTCC Square / Global Cryptocurrency /
Chainlink LINK News: Bullish Structure Regained, Potential Uptrend Anticipated

Chainlink LINK News: Bullish Structure Regained, Potential Uptrend Anticipated

Author:
Global Cryptocurrency
Published:
2025-01-21 04:05:53
18
3

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Chainlink has recently regained its bullish structure on the daily chart, showing signs of accumulation over the past month amidst bearish market sentiment. On January 17th, the cryptocurrency flipped its daily market structure to bullish after breaking through the $23.83 level, indicating a shift in momentum and increasing demand. Despite recent market bearishness, the 61.8% Fibonacci level has been retested, and the psychological $20 support zone has held strong. This recovery could mark the beginning of an uptrend, potentially driving Chainlink's price beyond $31. However, it's worth noting that daily active addresses and development activity showed a notable decline during the holiday season.

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