- LINK has formed a bullish pennant pattern, indicating that a move to $13.38 is possible.
- For the long term, market players should look at entries around $9.67 if LINK drops.
- LINK may retest $11.46 but the token may fail to hold on to the price.
The price of Chainlink (LINK) has stalled after the token made an incredible 46% increase in the last 30 days. At press time, LINK exchanged hands at $11.30. However, Chainlink still has incredible growth potential, according to pseudonymous trader Cryptonary.
Another downturn is possible
Cryptonary, in his post on X (formerly Twitter), mentioned that LINK’s correlation with Bitcoin (BTC) may drive a correction for the token. However, the analyst also disclosed that the possible drawdown could be a good position to buy LINK.
Using the bullish pennant pattern, Cryptonary noted that $9.67 could be a good entry point if traders aim to target $13.38 and $17.74 in the mid-term.
What's Next for $LINK | Chainlink AnalysisThe post Can Chainlink (LINK) Reach $17.74 After a Slight Correction? appeared first on Coin Edition.While Bitcoin's performance often takes centre stage, LINK has a story of its own to tell.
Chainlink looks due for some downside. If we get this move down, it should send LINK to an area for a …