if the demand for the remains high,

The LINK price showed that it rose from September 2023 from the level of $5.8, and after taking a halt somewhere at $13 for nearly three months, the rally made a top of $22.85 by March 11th, 2024.

The price ended up violating the uptrend thereon by making new lower lows and highs on the daily chart, where it dropped to the earlier support where it took a halt last time.

After various attempts to rise, LINK happened to be at the same spot, and that is beneath the 50-day and 200-day EMA, and majorly underneath the declining trendline in the long term.

However, after the multiple surges from the crucial support, the LINK looks ready once again to show a recovery by rallying from a $13 key support on the daily chart.

The market leader with dominance of 53.4% is looking like it is primed to rise; the leader also influences the realm of crypto as well. Therefore, LINK crypto looks like it is set for a colossal surge, as it seems it is geared up to crack the resistance level up ahead and rocket to capture the lost territories once again from the current support zone.

Furthermore, the LINK asset is exhibiting bullish strength and rising capacity as it has taken support from $13 and approaches major 50-day and 200-day EMA's in order to surpass them and reach near the resisting trendline.

Likewise, the LINK asset is displaying bullish behavior as the histogram seems to be converging, which could be a trait of bullishness coming in the crypto. The RSI looks to be taking a u-turn from an oversold of 30, which recently flashed at 40.62, which, was above 14-SMA, and looks like it is headed for the overbought territory, meaning that the asset could extend its gains, based on the investor's and traders' '.

At press time, the Chainlink (LINK) crypto is experiencing a surge of 2.74% in the last 24 hours, which is trading at $13.987. The market capitalization is $8.53 Billion, and the 24-hour trading volume amounted to $377.73 Million; both showing growth of 5.22% and 1.22%, respectively.

As of now, the volume-to-market cap ratio stands at 4.13%, which signifies weak liquidity. It shows that the market is in need of liquidity, and it currently shows a less stable market.

Therefore, if LINK gets a hold of good liquidity from the buyers' side, and bullishness prevails, then the nearest targets would be up to the trendline resistance, and that would be $17.0 and $19.0, respectively.

However, in case the LINK fails to hold on above the multiple times tested support of $13.0, the price could deteriorate endlessly; the nearest breathing point for the LINK would be the support levels of $10.0 and $8.50, respectively.

Therefore, if the demand for the remains high, the asset price could bounce back from the current level. The next goal for the price is to reach $0.1200.

However, if the crypto price fails to stay above the $0.0500 level, it could decline further.