Chainlink Price Technical Analysis 22.03.2023

Chainlink continues to consolidate in the range for 314 days. According to on-chain data, whales are accumulating $LINK, worth $18.5 million over the past two weeks.

Since its dip on May 12, 2022, $LINK has been consolidating within the range marked on the chart for 314 days.

Technically, $LINK is currently at the EQ point of the range, which is $7.60. If it manages to close above this level, I believe its target will be the range high of $9.65.

Charts that consolidate for an extended period typically experience sharp price increases once they break out of the range. Therefore, it’s crucial to closely monitor $LINK’s price movements, and investors should stay informed and exercise caution when investing in cryptocurrencies.

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