{"id":62269,"date":"2023-07-31T19:03:41","date_gmt":"2023-07-31T19:03:41","guid":{"rendered":"https:\/\/coinjournal.net\/news\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\/"},"modified":"2023-07-31T19:03:41","modified_gmt":"2023-07-31T19:03:41","slug":"chainlink-price-prediction-heres-what-top-analyst-says-about-link","status":"publish","type":"post","link":"https:\/\/coinalsat.com\/en\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\/","title":{"rendered":"Chainlink price prediction: Here\u2019s what top analyst says about LINK"},"content":{"rendered":"\n<ul>\n<li dir=\"ltr\">Chainlink (LINK) traded to highs of $8.44 before retreating amid broader market uncertainty.<\/li>\n<li dir=\"ltr\">A top crypto analyst says LINK seeing a weekly close below the macro downtrend line portends fresh losses.<em>&nbsp;<\/em><\/li>\n<li dir=\"ltr\">The &ldquo;Macro Breakout is postponed&rdquo; the analyst noted on Monday.&nbsp;<\/li>\n<\/ul>\n<p dir=\"ltr\">Chainlink posted an impressive run in the week of July 13-21, notching a +20% gain in a single day on July 20 as it hit a three-month high of $8.44. On-chain volume spiked to over $347 million as traders poured into the altcoin amid positive network developments.<\/p>\n<h2 dir=\"ltr\">Chainlink price analysis<\/h2>\n<p dir=\"ltr\">LINK bulls appeared to be on the way to retesting a key technical level just under $10, with price poised to break a multi-year macro downtrend.&nbsp;<\/p>\n<p dir=\"ltr\">Crypto analyst Rekt Capital highlighted this on Friday, identifying a potential weekly close above the macro downtrend line as a likely indicator of bullish strength.<\/p>\n<p dir=\"ltr\">As can be seen in the chart below, Chainlink price has recoiled from the crucial hurdle with a weekly close below. According to the analyst, the scenario where the would-be macro breakout has fizzled out (at the moment.)<\/p>\n<p dir=\"ltr\">&ldquo;<em>$LINK has ultimately performed its new Weekly Close below the Macro Downtrend. As a result, the Macro Breakout is postponed. Unless #LINK is able to reclaim this Macro Downtrend as support, price is positioning itself up for a rejection from here<\/em>,&rdquo; Rekt Capital <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1686074433058799616\">shared<\/a> on X (fka Twitter).<\/p>\n<p dir=\"ltr\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/media.igms.io\/2023\/06\/31\/1690829774163-6ef3c126-c8e6-4674-89b6-a210176ef75b.jpg\" style=\"width: 600px\" class=\"fr-fic fr-dib\" width=\"600\" height=\"423\"><em>Chainlink weekly price chart showing LINK new weekly close. Source: Rekt Capital.<\/em><\/p>\n<div class=\"fr-img-space-wrap\">LINK currently trades near $7.60, largely flat in the past 24 hours. Investors have seen gains recorded over the past week cut to just 1%. LINK\/USD is up 20% in the past 30 days.<\/div>\n<p dir=\"ltr\">\n<p dir=\"ltr\">If prices fall below $7.00, the next major support zone could be around $5.00. On the upside, $8.50 and $10 are key supply zones.&nbsp;<\/p>\n<p dir=\"ltr\">Here&#8217;s something else the analyst points out about Chainlink price performance.<\/p>\n<p dir=\"ltr\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In the end <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LINK<\/a> Weekly Closed below its Range High resistance just like it did many times in the past<\/p>\n<p>And so this <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/LINK?src=hash&amp;ref_src=twsrc%5Etfw\">#LINK<\/a> bounce may be a relief rally to confirm the Range High as resistance<\/p>\n<p>If that&#8217;s the case LINK could drop lower in this black-black range<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\">#Chainlink<\/a> <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/t.co\/yKlMNiPkqE\">pic.twitter.com\/yKlMNiPkqE<\/a><\/p>\n<p>&mdash; Rekt Capital (@rektcapital) <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1686083230837964802?ref_src=twsrc%5Etfw\">July 31, 2023<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\/\">Chainlink price prediction: Here\u2019s what top analyst says about LINK<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"\n<p>Chainlink (LINK) traded to highs of $8.44 before retreating amid broader market uncertainty. A top crypto analyst says LINK seeing a weekly close below the macro downtrend line portends fresh losses.&#160; The &#8220;Macro Breakout is postponed&#8221; the analyst noted on Monday.&#160; Chainlink posted an impressive run in the week of July 13-21, notching a +20% [&#8230;]<\/p>\n<p>The post <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\/news\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\/\">Chainlink price prediction: Here\u2019s what top analyst says about LINK<\/a> appeared first on <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":62270,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[48,43],"tags":[],"class_list":["post-62269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-crypto-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chainlink price prediction: Here\u2019s what top analyst says about LINK - CoinAlSat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinalsat.com\/en\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainlink price prediction: Here\u2019s what top analyst says about LINK - CoinAlSat.com\" \/>\n<meta property=\"og:description\" content=\"Chainlink (LINK) traded to highs of $8.44 before retreating amid broader market uncertainty. A top crypto analyst says LINK seeing a weekly close below the macro downtrend line portends fresh losses.&#160; The &#8220;Macro Breakout is postponed&#8221; the analyst noted on Monday.&#160; Chainlink posted an impressive run in the week of July 13-21, notching a +20% [&#8230;] The post Chainlink price prediction: Here\u2019s what top analyst says about LINK appeared first on CoinJournal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinalsat.com\/en\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\/\" \/>\n<meta property=\"og:site_name\" content=\"CoinAlSat.com\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/coinalsat1\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-31T19:03:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/media.igms.io\/2023\/06\/31\/1690829774163-6ef3c126-c8e6-4674-89b6-a210176ef75b.jpg\" \/>\n<meta name=\"author\" content=\"Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/\"},\"author\":{\"name\":\"Author\",\"@id\":\"https:\\\/\\\/coinalsat.com\\\/#\\\/schema\\\/person\\\/6fa35040f9ef4ae108188eaeb3ef441b\"},\"headline\":\"Chainlink price prediction: Here\u2019s what top analyst says about LINK\",\"datePublished\":\"2023-07-31T19:03:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/\"},\"wordCount\":393,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/coinalsat.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link.jpg\",\"articleSection\":[\"Blockchain\",\"Crypto Currency News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/\",\"url\":\"https:\\\/\\\/coinalsat.com\\\/en\\\/chainlink-price-prediction-heres-what-top-analyst-says-about-link\\\/\",\"name\":\"Chainlink price prediction: Here\u2019s what top analyst says about LINK - 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