In 2023, Chainlink (LINK), a popular altcoin on the Binance exchange, experienced an impressive growth period and its rally potential continues. The price of Bitcoin recently reached $38,000 once again and pulled back from $37,988. Experts are issuing warnings that this movement is imminent. Following Binance, the markets are now preparing for significant gains.
The price of Bitcoin is currently at $37,600 and made a quick jump to $37,988 about an hour ago. However, it faced resistance and retraced due to profit-taking. We have seen these kinds of tests open the door to new highs for weeks. If the price can stay above $37,500 after the last resistance test, BTC can surpass this challenging level.
The increase in Bitcoin price will also be a source of joy for LINK Coin investors. Weekly chart readings show that LINK Coin has broken free from the 500-day horizontal resistance zone. We have seen similar long-term resistance breakouts lead to price surges in different altcoins, and a similar process can occur here as well.
The increase in LINK price has been rapid, reaching a peak of $16.6 after a four-week rally. This indicates a rally of 160% in just four weeks.
Popular analyst Bay Ape stated that the increase in LINK Coin price will continue steadily. We have been emphasizing for months that the future of LINK price will be supported by increasing optimism in the project. The growing interest in the RWA sector and the monopolistic position of the LINK Coin team serve as a leading signal for major rallies.
Bitcoin Scoop pointed out that liquidity formed below the price could trigger an upward movement more than the liquidity formed above the price. Tony expects the LINK Coin price to gain momentum with BTC breaking out of the ascending wedge formation. Chainlink staking v0.2 is coming in just four days on November 28. As we approach this date and if BTC does not suffer significant losses, fundamental analysis predicts an upward trend for LINK Coin.