Chainlink is one of the most prominent Oracle service providers in the market. Given the platform’s status, Chainlink also adds a layer of promise to LINK, its native currency.
Under the current market situation, traders are turning to versatile investment options. This is where LINK chimes in with its immaculate market support. Ali, a top crypto analyst, also supports the development.
The analyst recently pointed out a promising technical pattern on the LINK trading charts. The analysis noted that the TD Sequential indicator for LINK highlights a buy signal on the 12-hour chart.
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Ali believes that the development can set LINK on the path of a liftoff. As a market timing tool, TD Sequential tries to figure out price momentum via declining and advancing momentum indicators. In scenarios where the indicator hints at a bearish or bullish pattern, the tool can signal an impending trend reversal.
The analyst firmly believes that if LINK can float above 13.87 dollars, it can accumulate a strong rebound at 15.50 dollars. Currently, Chainlink is priced at 13.86 dollars, with a 2.88% dip in the past 24 hours.
According to the latest Chainlink price prediction, the coin can end the year between 13.08 and 15.64 dollars. The tweet by Ali also reinforced the prediction as the analyst saw the coin finding support at 15.50 dollars.
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Chainlink uses LINK as the standard method to pay for Node Operators to fetch data for smart contracts on its network. Since the coin holds an immense role in Chainlink’s decentralized oracle network, its movement can impact the entire ecosystem. That is why the Chainlink community is keenly following LINK’s market shifts.
