Chainlink Price Prediction Eyes $10 After Breakout Holds
Chainlink's price has been holding above its long descending trendline since breaking out of it. The token cleared this trendline a few sessions ago and, rather than slipping back under, has managed to sustain itself above it. However, the move hasn't been straight upwards, instead, the price has been gradually drifting lower in small steps.
This setup is what's putting Chainlink's price prediction back in focus. The token needs a confirmed close above $8.537 to validate its breakout and shift focus towards $8.920 and beyond. An aggressive rally with sentiment-driven momentum could push it towards the extended target of $10.025, but this would require cooperation from Bitcoin.
On the other hand, if Chainlink's price closes below $7.884, it would mark its breakout as failed and shift focus to the next support level at $7.516.