World-renowned technical analyst Kevin Svenson shared an important forecast for Chainlink (LINK). Kevin Svenson argues that Chainlink will set an all-time high after reaching a certain price zone. According to the analyst, LINK will test new highs that have never been seen before.
Kevin Svenson: Chainlink will test new highs never seen before
Chainlink is still one of the newest and most promising DeFi cryptocurrencies on the market. However, to maintain this title, the cryptocurrency will need support. As world-renowned technical analyst Kevin Svenson said on Twitter, altcoin should start at $ 13. Chainlink’s all-time highest price is $ 19.83, set on August 16, 2020. Three months later, cryptocurrency’s momentum melted after DeFi’s short-term collapse. However, breaking $ 13 will allow LINK to continue this upward trend.
According to Kevin Svenson, this level marks a very important point for the whole market. At the time of this writing, Chainlink is trading at a price of $ 12.37, up 4 percent. The 14.60% gain in seven days is promising for Chainlink and serves as a fair starting point for the potential rally of cryptocurrency. October brought LINK back for $ 12, but nothing more. The bulls got stronger in the new month and buyers regained control over the market over the past week. The price refusal from the sellers has not hit the price as hard as the last three months. This leads to new bull patterns for LINK, according to the analyst.
Analyst: $ 13 resistance at LINK is the next hurdle to overcome
According to many analysts, it is Ethereum sourced from the one that got the market up after this last rally update date was released. According to the charts, November could be an important month for LINK to recover, and December could bring more spikes when Ethereum 2.0 is launched. But for now, the $ 13 resistance is the next hurdle to be overcome, and with this already in motion, analysts say dips are likely.