The price of Chainlink hasn’t been able to keep up with its early-year rising trend. The last week was a good example of these problems, as bulls were not able to fully take control. However, a well-known crypto expert says that the coin’s price changes might be over soon.
Ali Martinez, a famous crypto expert, tweeted that he thought Chainlink would go up in value. Martinez thinks that the price of the cryptocurrency, which has had a lot of problems, will change in the next few weeks.
Chainlink Eyes $19 Target
Martinez is hopeful because Chainlink’s four-hour price chart shows an inverted head and shoulders pattern. With a lower low and two shoulders (a lower low and a higher low), this pattern is a standard way to tell when a trend is changing.
The price usually changes from a bearish to a bullish trend when it breaks the neckline, which is an artificial line drawn through the highest and lowest points of the price action.
Martinez pointed out that Chainlink could hit $19 soon if it breaks above the neckline at about $15. If this goal is met, the price of the token will go up by almost 50% from where it is now. This is good news for buyers who have been waiting two months for the price to rise.
Right now, Chainlink’s price is just above $13.5, which means it has gone up 3.6% in the last 24 hours. Even though it gained, it still hasn’t fully returned from the losses last week. According to statistics from CoinGecko, Chainlink’s value dropped by 3% in the last week. With a market cap of more than $8.2 billion, the cryptocurrency is still one of the 20 biggest assets.
