Chainlink Whiplink Strap in for a 20% Rally to Ring in the New Year

3 Compelling Factors That Could Propel Chainlink Price Up 20% Before the New Year

Chainlink’s LINK Price Soars: Will it Hit $100?

The price of Chainlink’s LINK token has been on a rollercoaster ride recently, skyrocketing by a mind-blowing 240% since hitting its yearly low of $4.70 back in June 2023. But hold on, because the fun might not be over just yet!

Picture this: LINK’s price has been trapped inside an ascending triangle pattern since November 2023. Now, ascending triangles are like secret agents disguised as bullish continuation patterns during an uptrend. They patiently wait for the perfect moment to strike and make their heroic breakout. And it seems like LINK is ready to unleash its superpowers!

Currently, LINK is flirting with the upper trendline of the triangle, teasing us with the possibility of a breakout. If and when it breaks above this resistance level, hold onto your hats because the target for this breakout is a whopping $19.50! That’s a 20% increase from its current levels. Are you excited yet?

But wait, there’s more! Let’s dive into some data that further supports this bullish case for LINK.

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According to the latest statistics, exchanges hold the lowest supply of LINK tokens since February 2020. This significant drop of 19% from the peak in August 2023 suggests that traders are holding onto their LINK like it’s gold. And who can blame them? With a 150% rise in value, why would you want to let go of such a precious asset?

Now, here’s the clincher: LINK’s top 200 whales, those majestic creatures with deep wallets, have been accumulating an impressive $50 million worth of LINK tokens since the beginning of November. Just think about it, these whales believe in the power of LINK so strongly that they are stocking up on it, expecting its value to reach new heights. It’s like witnessing a gathering of fortune tellers who can’t wait to share their visions of a prosperous future.

So, with all this evidence pointing towards a continued rally for LINK, what are you waiting for? Don’t miss out on this opportunity to ride the wave and potentially make some serious gains. Invest wisely, my fellow digital asset adventurers!

Disclaimer: The above content is not financial advice. Always do your own research before making any investment decisions.

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