Amid the ongoing bullish recovery in the crypto space this week, the BTC price has retested its $73,000 level. With this, major altcoins have added massive valuation to their respective portfolio within a short period.
Successively, the Chainlink (LINK) price has resurfaced among the top gainers after recording a consolidated price action for a brief period. Will this altcoin hold its bullish momentum or experience a major turnaround this weekend? Scroll down to cover the possible short-term comings.
LINK Crypto Successfully Retests Its Important Support!
The Chainlink price has added 4.63% to its portfolio in the past 24 hours with a trading volume of $287.38 million. Moreover, it has added 5.61% over the past week. This highlights a rising bullish sentiment for the altcoin.
Notably, LINK price has been hovering close to its important support/resistance trendline of $11 since August. Moreover, with a market cap of $7.54 billion, it has secured the 14th position in the global cryptocurrency market.
Chainlink Technical Sentiments
The EMA 50-day has recorded a bullish convergence in the 1D time frame. This indicates that the LINK coin price may continue gaining value during the upcoming time.
Further, the Relative Strength Index (RSI) has experienced a significant rise in the price chart with its average trendline recording a bullish convergence. This suggests a bullish outlook for the altcoin this week.
Will LINK Price Retest $20 This Q4?
Maintaining the bullish influence could push the price of Chainlink toward its resistance level of $14. Further, if the bulls dominate the crypto space during the upcoming time, this could result in it preparing to test its upper resistance level of $17.
On the contrary, a bearish reversal could pull the price toward its important support level of $11. Moreover, if the bulls fail to regain momentum at that, this could result in the 14th largest crypto project retesting its yearly low of around the $8 level.
Curious about the long-term price projections of this altcoin? Read our Chainlink (LINK) Price Prediction article to uncover the future mysteries!
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed