According to market analysts, a bullish signal has emerged in the price trend of Chainlink (LINK) near the $18 support level. Analyst Ali Martinez believes that Chainlink is gearing up to move towards $21 or even $23 as the TD Sequential indicator has given a buy signal. Currently trading at $19.03, Chainlink has found support between $17 to $18, preventing further price drops. If this support holds, a short-term uptrend is likely to begin, with $21 acting as a key resistance level and $23 as the next hurdle for LINK. Data from IntoTheBlock shows that about 57% of LINK holders are still in profit, with 67% of the total LINK supply held by whales, impacting the price trend. Furthermore, the withdrawal of $19.76 million worth of LINK from exchanges indicates reduced selling pressure and increases the likelihood of price growth to $21 and $23. Analyst Michael Van de Poppe also suggests that the LINK/BTC pair is bullish, with the potential for Chainlink to reach $40 to $50 in the long term.
