Previous article Chainlink price analysis: LINK still looks primed for a 20%+ upswing Next article Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Worlds First Bitcoin ICO Presale Ends 15th March Buy Now Buy Now Home Latest Cryptocurrency News Chainlink price analysis: LINK still looks primed for a 20%+ upswing Chainlink price analysis: LINK still looks primed for a 20%+ upswing By Benson Toti - min read 16 February 2023 Chainlink (LINK) price outlook suggests bulls will eye $8.00 and then $9.50 if upside momentum holds. The cryptocurrency has been in accumulation for more than 300 days. A 20% breakout to the suggested highs last reached in November is possible for LINK/USD. Chainlink (LINK) is changing hands around $7.40, up 7.3% at the time of writing. It’s not a huge breakout for the 23rd ranked altcoin (by market cap), particularly given the mega swings seen today with Bitcoin hitting multi-month highs above $25,000 and Ethereum testing bearish resolve above $1,700 on Thursday. LINK price – the bullish case While the LINK price is facing rejection around $7.50 amid potential slowdown for bulls, a technical outlook for the oracle network’s native token suggests a run to $8 can still happen. According to crypto analyst Ali, LINK could swing to the upper trendline of a rising channel as the coin has tended to bounce after reaching the support line. Note that this outlook is from a few days when Chainlink price rebounded from the parallel channel’s lower trendline to test resistance around $7.50. Per the prediction Ali recently shared, LINK might continue with the pattern, which is key after today’s price action saw bulls test the aforementioned supply wall. #Chainlink eyes $8!$LINK bounced off the lower boundary of the parallel channel noticed on its 4-hour. Now, #LINK could be aiming for the upper edge of this technical formation. https://t.co/mjcyaaV5I4 pic.twitter.com/MtqvKozVOO — Ali (@ali_charts) February 7, 2023 Another analyst, Inmortal, points to the fact that Chainlink has been in consolidation for more than 300 days. The accumulation could end with a violent breakout. Still like $LINK here. +300 days accumulation could end soon with a violent move. pic.twitter.com/Ll4x9MebM6 — Inmortal (@inmortalcrypto) February 16, 2023 Looking at the Chainlink price chart, a rally above $8.00 could open up a 22% upside path for LINK/USD to target the $9.50 reached on 8 November 2022. LINK price – the bearish scenario As tailwinds could wane amid broader market slowdown, the ascending middle line currently provides the main resistance area. A sell-off triggered by wider market uncertainty means bears can still target $6.75 and $6.00 remains a crucial buffer zone. Share this article Categories Markets Tags Chainlink News Link Price