Chainlink Price Consolidates After a short-term Correction


    LINK price rebounds with notable figures making up in the top 5 cryptocurrency list

    Analyst predicts a huge bull run which could take the price above $25 by year-end

The most dominant DeFi token, Chainlink price has secured the fifth position in the top 10 cryptocurrency list leaving behind Litecoin and Bitcoin Cash. The last time the market capitalization hit over $5 billion, the LINK price was on its path towards its ATH. 

In fact, the Chainlink price was also close to the current price of $12.93. With the jump of nearly 4.46 percent in the last 24 hours, the LINK token marked a rebound from the correction phase. 

With the bitcoin continuing its bull run, smashing $17K, the more cryptocurrencies which were benefited are XRP and LINK. The LINK/BTC pair gets pretty much stronger compared to the LINK/USD pair. LINK price along with Ethereum was undergoing the slowest pump which is expected to get a big push over time. 

At present, it is very important for the LINK price to maintain the support levels above $13 after it surpasses the mark, to continue the bull run. The current support levels are too close, at $12.68 which enhances the possibilities of decline below the levels.

 However, the LINK Marines are expected to pump the price to continue with the rally to attain the ATH very soon. LINK price has strong resistance at $13 and has got rejected multiple times, hence surpassing these levels might not be that difficult.

Collectively, LINK and Ethereum, both had adopted a slow pump offlet which needs to be broken to outperform various other assets. The stagnant behavior of the assets, however, does not attract the crypto enthusiast. Therefore, the LINK price needs to get aggressive in the coming days so that it does not slip below $10 ever.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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