Chainlink (LINK) Targets Rebound To $19 — But Only If This Key Support Holds :

Despite a widespread weekly gain in the crypto market, Chainlink (LINK) remains under significant bearish pressure printing losses across multiple time frames. Since hitting a local price peak of $29.28 in December, the altcoin has slipped into a downtrend losing over 56% since then. Amid this negative performance, top crypto analyst Ali Martinez postulates LINK could soon experience some short-term price gain.

LINK Recovery Depends On Critical Trendline Support

In a recent post on X, Martinez shares a positive technical outlook on LINK hinting the altcoin is likely to experience an upswing. This price forecast is based on a crucial ascending trendline that has acted as price support since mid-2023, ensuring a consistent formation of higher lows and higher highs.