- Chainlink is approaching the $19.97 resistance, anticipating a rise to $25 driven by increased network activity.
- Solana shows Ascending Triangle formation, with potential to break above $123 and reach as high as $140 in the near future.
Chainlink (LINK) and Solana (SOL) are poised for a considerable rise in their prices, standing at turning points for a minimum 20% expansion in their valuation. As the rise in Bitcoin’s price attracts investors’ eyes, there are those exploring opportunities in altcoins.
LINK and SOL are examples of cryptocurrencies that are on the verge of significant advances.
Chainlink Price Rise
Recently, Chainlink’s price rose above $20, but faced difficulties in holding due to selling pressure. However, it is currently trading near a major resistance level at $19.97 experiencing a 6% rise in the last 24 hours.
The increase in LINK value is associated with an increase in network activity and a reduction in the amount available on exchanges. Three key indicators support this trend: the number of active addresses, their daily activity and the amount of LINK on exchanges .
During February, spikes in active addresses were observed, peaking at 6,493 on February 2. Also, the amount of LINK on exchanges decreased, suggesting a decrease in selling pressure on the token.
This behavior points to a positive projection for Chainlink, where an advance above $20 could push the price towards $25.
Solana (SOL) Anticipates a Significant Advance
A leading cryptocurrency analyst identified an encouraging pattern in Solana, suggesting the possibility of a continuation in its uptrend. Despite a slight dip, Solana has resumed its upward momentum, with signs of forming an Ascending Triangle pattern.
Didn't even have to dip too much before resuming its rally
In fact, #SOL is forming an Ascending Triangle here
Reclaim the triangle top as support & Solana will confirm the breakout which should surely see price breach the $123 resistance (black)#SOL #Solana #Bitcoin https://t.co/ycRqHyCp7P pic.twitter.com/CJtQRKymtk
— Rekt Capital (@rektcapital) February 14, 2024
According to this analysis, to confirm the advance, Solana must establish the top of the triangle as support. If this happens, a significant rise is expected, potentially surpassing the $123 resistance level.
Beyond this value, SOL’s price could climb to $140, indicating rising optimism towards Solana’s trajectory in the cryptocurrency market.
At the moment, Solana shows a growth of 2.51% trading at $112 with a market capitalization of $50.5 billion.
Chainlink and Solana’ s situation not only reflects the steady evolution of the cryptocurrency market but also investor interest in assets that present growth potential .
The expectation of upside breakouts emphasizes the attractiveness of these altcoins, not only for their speculative value but as an essential part of a diversified investment portfolio in the crypto sector.
