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Chainlink LINK Pullback to $16 Could Trigger Parabolic Rally, Analyst Predicts
Chainlink LINK Pullback to $16 Could Trigger Parabolic Rally, Analyst Predicts
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Chainlink LINK News - Chainlink's LINK token has declined 5.63% over the past week amid broader market volatility, yet maintains a strong 20.88% monthly gain. Analyst Ali Martinez identifies a critical juncture: a potential retest of the $16 support level could trigger a historic breakout. The symmetrical triangle pattern on LINK's weekly chart suggests an impending major move. Martinez's Fibonacci-based analysis pinpoints $16 as the 0.5 retracement level—a traditional accumulation zone where bullish momentum often reignites. Current trading NEAR $22 leaves room for what the analyst calls "the most bullish setup" if the token completes this final retracement.
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