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Chainlink Price Extending its Bullish Streak Smashes New ATH Again!

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Highlights

    Chainlink price furnishing with newer highs upholding the expectations of the crypto space

    The surge appears to be self-possessed to hit the initial target set at $50 anytime in the coming week

The Chainlink price has risen above the odds to rally above $30 levels forecasting a magnificent price movement. The price manifested controlled volatility, endorsing a steady approach minimizing sudden plunges. 

The price, however, experienced a couple of pullbacks which were short-lived and did not cause any hindrance for the LINK price rally. Chainlink, in the very recent price motion, adopted a spectacular strategy of a price surge after a strong consolidation or accumulation.

Currently, the LINK price appears to be poised to head confidently to the next set target at $40, and later at $50 as predicted by an analyst and a strategic consultant, MacroCRG.

However, many in the crypto space still believe the rally may accelerate with huge intensity so that the price hits $100 by the end of 2021.

The previous working day initiated with a plunge which dragged the LINK price close to $26. Nevertheless, the price is known for withstanding the plunge, rose above $30 and closed the daily trade.

The path to forming new highs was, however, led in the previous day which was carried to the next level in the early working hours. The price registered a new green candle every new hour to smash the new ATH at $32.04 jumping more than 8%.

LINK chart

At the time of writing, the LINK price is $30.61 with a jump of 12.36% in the last 24 hours. According to analysts, Rekt Capital, the LINK price rallied 300% after it broke its first ATH at $5 and is surging nearly 50% currently after breaking $20. Therefore as per the analyst, many more levels are yet to come.

Technical Specifications

  • The resistance levels are currently at the ATH above $32, once broken successfully, $40 may be imminent
  • The support levels are formed initially at $27.15 and if failed to sustain the next levels below $26 may be revisited
  • The indicators for the Chainlink price point out towards a ‘strong buy’
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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.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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