Bitcoin

Chainlink

The post <a href="https://coinpedia.org/price-analysis/with-link-price-under-retest-upside-potential-rises-to-100/" rel="noopener noreferrer nofollow">With LINK Price Under Retest, Upside Potential Rises To 100%</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the Bitcoin halving coming closer, the altcoins are preparing for the next altcoin season as the underlying demand grows. Amidst this, the LINK price action shows a high likelihood of an uptrend continuation with a potential retest.&nbsp;
Despite the recent fall in the past few weeks, Chainlink comes as a strong candidate with an upside potential of 100% surge. Will the altcoin price reach the $50 mark as the overall market teases an uptrend in April? Find out more in our <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/" rel="noopener noreferrer nofollow">LINK price prediction</a> that suggests a rally beyond $50 in 2024.&nbsp;
<h2 class="wp-block-heading" id="h-chainlink-price-performance">Chainlink Price Performance</h2>
With a rounding bottom breakout in the weekly chart, the LINK price trend is ready for a massive upswing. However, the recent pullback as the market slides with increased volatility questions the likelihood of a bull run.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322-1024x509.png" alt="" class="wp-image-288895" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/04/10121655/image-322.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<a href="https://www.tradingview.com/x/SOfTg3g5/" rel="noopener noreferrer nofollow">Tradingview</a>
The LINK price action shows a high supply pressure at the $23 mark or the 38.20% Fibonacci level, leading to a quick fall to $16. With this downfall, the altcoin retests a crucial demand zone present near the 23.60% Fibonacci level.&nbsp;
Further, the candles near the demand zone showcase lower price rejection, teasing a bounce back. Currently, the LINK price trades at $17.57, with an ongoing brawl at the $16 support zone.&nbsp;
Technical indicators:
EMA: The 200W and 50W EMA sustain a positive alignment following the recent golden cross.&nbsp;
RSI: The recent pullback drops the weekly RSI line closer to the halfway line.
<h2 class="wp-block-heading" id="h-will-link-price-reach-50">Will LINK Price Reach $50?</h2>
With the LINK price drawing closer to the 200D EMA and the ongoing retest of $16, the altcoin signals a buying opportunity. Despite the pullback visible in the weekly chart, the altcoin offers an absolute beast of upside potential to reach $35.&nbsp;
However, a downfall under the $15 mark or the 200D EMA could retest the $13.61 mark or the 50W EMA.&nbsp;

With LINK Price Under Retest, Upside Potential Rises To 100%

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