Chainlink is witnessing a crucial price analysis moment as it encounters resistance despite breaking free from a prolonged consolation phase. The LINK token has seen a 2.1% decrease over the past day, settling at a trading price of $14.71.
The cryptocurrency did experience a brief surge to an intra-day peak of $15.15 before meeting rejection. Despite this, there is speculation and optimism in the market around a significant historical pattern emerging on the Chainlink chart.
This historical trend hints at a strong potential for a 167% rally in Chainlink’s value, indicating the possibility of the token reaching up to $40. Observers and traders are eyeing this opportunity as a substantial growth indicator.
