Today, the price of Chainlink is $25.89 with a 24-hour trading volume of $1,117,044,440. Since September 16, the Chainlink price has been dropping steadily. It started to consolidate after reaching a swing low on September 22. Symmetric Triangle is a technical formation formed by the connecting trend lines. It forecasts a 16% breakout and has a target of around $28.38 or $18.26. The chainlink price started its consolidation after it started to descend on September 7.
Since the symmetrical triangle does not have a directional bias, investors might expect a break lower for altcoins as the bearish trend is already in place. If Chainlink’s price manages to close above the $24.90 mark, it will confirm a bullish breakout and trigger a move to the next resistance level at $28.39. If the chainlink price breaks below $22.15, it will invalidate the bullish thesis. In some cases, the buyers might target the zone between $18.26 and $22.15.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.