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Chainlink Targets $50 After Key Breakout with Rising Momentum
In a recent development, Chainlink has broken out of its long-term symmetrical triangle, signaling a bullish trend and paving the way for potential further growth. As reported by Yusuf Islam on December 24, 2024, the cryptocurrency has consolidated between $19.20 and $29.00.
The report highlights that LINK’s breakout above this range can be seen as an opportunity to prepare for its next move upward. The article points out that the asset is currently trading within a narrow range of $29.00 and $19.20 with a key support at $24.00, which aligns with Fibonacci retracement levels.
The analysis has also emphasized that Chainlink’s current trend shows no signs of slowing down as traders prepare for potential entry points at $19.20 in anticipation of a massive price jump to reach the projected target of $50.
Market sentiment and technical analysis both support the bullish outlook, signaling further growth ahead.
Source: cryptonewsland.com
