Analysts Think Chainlink (LINK) Is Primed to Rocket Toward $13

Analysts Think Chainlink (LINK) Is Primed to Rocket Toward $13
фото показано с : newsbtc.com

2020-11-3 13:00

Like many other altcoins, Chainlink (LINK) faced a strong correction in September and October after the summer highs were set. From its summer high and all-time high of $20, set in the middle of August, LINK corrected more than 50%, bottoming around $7. As of this article’s writing, Chainlink trades for $10.86, down around 4% in the past 24 hours.

Despite this local weakness, analysts remain bullish on the popular altcoin. This is for both technical and technological reasons: LINK’s chart looks as though it has put in a medium-term bottom while development activity and partnerships ramp up.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Chainlink Is Poised to Rocket Higher, Analysts Say

Analysts think that Chainlink has room to extend to the upside after it managed to hold the $10 region. An analyst shared the chart below recently, showing that the cryptocurrency’s ability to hold the high-$10 range suggests it will move towards $13. His chart specifies that $10 is a key level for LINK to hold as support:

“Link looks pretty bottomed out to me. Tapped daily support in grey and now working on reclaiming Monday’s low. Think we head for those clean highs and blue S/R. Flip that and this thing will start really flying.”

Chart of LINK's price action over the past few weeks and months with analysis by crypto trader Trader Koz (@TraderKoz on Twitter). Source: LINKUSD from TradingView.com Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin Strong Fundamental Trends

There are fundamental trends that could boost the chance the cryptocurrency moves higher. Santiment, a leading blockchain analytics firm, reported that the Github activity pertaining to Chainlink has undergone an uptick over recent weeks. This is bullish in the long run as it shows that the cryptocurrency will have novel upgrades and integrations that should drive usage of LINK higher:

“The development activity of $LINK has been rising, according to the #github data we track. Generally, when projects have an increase in their team’s true dev. rate as #Chainlink has, it’s a positive sign for the asset’s sustainability & longevity.”

Chart of LINK's price action over the past few weeks and months with a development activity of LINK overlay from Santiment. Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: linkusd, linkbtc, linketh Charts from TradingView.com Analysts Think Chainlink (LINK) Is Primed to Rocket Toward $13

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ChainLink (LINK) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $17.68
Капитализация $0 Rank 99999
Цена в час новости $ 10.41 (-100%)

link set summer high chainlink highs bottoming

Источник: newsbtc.com

link set → Результатов: 48


DeFi’s Explosive Growth Curve Hits Nearly $12B Market Cap, As Yield Farming Frenzy Continues

The decentralized finance (DeFi) ecosystem is blooming as both the total market capitalization and total value locked (TVL) on these platforms, set record highs over the weekend. The market cap of DeFi-based tokens is nearing an impressive $12 billion mark after an explosive 62% weekly increase in Chainlink (LINK) price, which set an all-time high […]

2020-8-10 15:34


Chainlink (LINK) Enters “Price Discovery Mode” as Analysts Eye Move to $11

Chainlink (LINK) is once again entering another parabolic uptrend, with this one coming about in tandem with the surge seen across the aggregated crypto market. The cryptocurrency’s intense uptrend has allowed it to set fresh all-time highs and comes as many other tokens also flash signs of strength. LINK now appears to be entering what […]

2020-7-9 20:00


Фото:

This Key Data Metric Shows One Ultra-Bullish Crypto is About to Plunge

There’s no question that Chainlink has been the most bullish cryptocurrency on the market throughout the past couple of years, posting massive gains throughout 2019 and 2020 These gains allowed it to set fresh all-time highs earlier this year, and it now appears to be navigating back towards these highs Its mounting short-term strength, however, may be plagued by a massive influx of LINK into exchanged over the past day This could suggest that traders […]

2020-6-1 23:00


Фото:

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets

In this edition of The Daily, Coinbase customers in certain regions can now link their Paypal accounts to withdraw fiat and sell cryptocurrencies. Also, Russia’s third-largest bank is working to launch a digital asset management service in Switzerland, and Koinex, India’s leading crypto exchange, has set up a new development center in Bengaluru, the country’s […] The post The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets appeared first on Bitcoin News.

2018-12-7 17:15


A Guide to 99% Fault Tolerant Consensus

Special thanks to Emin Gun Sirer for review We’ve heard for a long time that it’s possible to achieve consensus with 50% fault tolerance in a synchronous network where messages broadcasted by any honest node are guaranteed to be received by all other honest nodes within some known time period (if an attacker has more than 50%, they can perform a “51% attack”, and there’s an analogue of this for any algorithm of this type).

2018-8-9 04:03


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Chainlink Signal Resurfaces: Is Another 31% Rally Coming?

On-chain data shows that a Chainlink signal that last preceded a 31% rally for the asset’s price has just reversed. Chainlink Age Consumed Metric Has Observed A Sharp Spike Recently According to data from the on-chain analytics firm Santiment, LINK has recently seen a significant movement from old coins.

Chainlink Retests $14: Here’s What Will Happen If Support Holds

Chainlink has registered some drawdown and has recently retested the $14 level. Here’s what might happen if support holds at this mark. On-Chain Data Suggests Resistance Is Thin At Higher Chainlink Levels As pointed out by analyst Ali in a new post on X, Chainlink is currently in a critical on-chain demand zone.

Analyst Predicts Chainlink Rally To $20 Based On This Pattern

An analyst has pointed out how Chainlink might be breaking out of a bull flag right now, which could suggest a rally toward $20. Chainlink Is Escaping Out Of A Bull Flag Pattern Currently In a new post on X, analyst Ali pointed out a breakout that may be forming in the LINK price chart.

Chainlink Declines 6%: Rally Over Or Is There More To Go?

The Chainlink rally has slowed down recently; here’s what the various LINK on-chain metrics look like to see if the surge has hope of a restart. Chainlink Has Registered Some Drawdown In The Past 24 Hours Just during the weekend, Chainlink had been floating above the $16 mark, but winds seem to have shifted for the coin in the past couple of days, as it has registered some drawdown.