Mapping LINK’s road to $58 – Here’s how large holders can spur this rally!

On the price charts, LINK broke out of a bullish flag pattern after weeks of consolidation
Whales stepped up their activity, purchasing a significant portion of LINK

In the last 24 hours, LINK saw a notable price hike of 1.65%, extending its market gains for the past week to 22.35%. What this means is that there may be potential for further price movement on the charts.

In fact, market sentiment and price action indicated that LINK could record double-digit gains soon, particularly if the prevailing bullish trend persists.

Double-digit gains to push LINK to $50?

According to popular crypto analyst Ali, LINK has taken its first step towards a major bullish move. This, after the altcoin breached a key resistance level of the bullish pattern it was traded within.

The pattern in play is known as a bullish flag, where the price consolidates within a defined support and resistance zone after a major upswing. This sets the stage for more upside, something that is usually confirmed once the resistance level is broken – Which LINK has done already.

Source: TradingView

The chart, which included Fibonacci retracement levels, highlighted a phase where the price may register slight pullbacks before continuing its upward trajectory. The potential target from this zone is $58.64, nearly three times its press time value of $22.906.

According to AMBCrypto’s analysis, whale accumulation of LINK will play a significant role in driving this price push on the charts.