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.
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.
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.
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!
Solana (SOL), the world’s sixth-largest cryptocurrency by market cap, is gaining massive attention from Binance…
In this ongoing market crash, XRP, Ripple Labs’ native token, is poised for a massive…
President Donald Trump's recent decision to impose 25% tariffs on imports from Canada and Mexico,…
In the ongoing tariff war between the United States and other countries, the cryptocurrency market…
The Solana price is on the verge of rising over the bearish captivity while the…
Pakistan is stepping into a new era of digital finance with a major announcement. Changpeng…
