Expert Says ‘Chainlink Is Killing It’ as LINK Faces Final Major Resistance

2023-10-28 17:20

Chainlink’s LINK token has been on an impressive run over the past several weeks, surging 133% from below $5. However, according to expert analyst Rekt Capital, LINK now faces one final test as it approaches a major historical resistance level.

Breakout from Months-Long Consolidation

After being range-bound for nearly 5 months, LINK finally broke out about a week ago. Since then, the price has continued climbing, moving from below $9 to just under $12 at the time of writing.

As Rekt Capital summed it up, “Chainlink is killing it.” This powerful breakout comes after a prolonged period of consolidation between $5-$9.

Last Major Monthly Downtrend Awaits

However, Rekt Capital cautions that LINK is now approaching “an area of historical resistance, confluent with the Monthly Macro Downtrend.” This represents the final major downtrend for LINK on the monthly timeframe.

While some rejection of this level could occur in the short-term, Rekt Capital notes this barrier should eventually give way: “No doubt Chainlink will break this one over time as well.”

Decisive Move Could Set Future Trajectory

In short, LINK faces a decisive test as it confronts this last monthly downtrend line and historic resistance zone. A convincing break above this barrier could pave the way for significantly more upside. But if LINK sees rejection here in the short-term, that could lead to a pullback before another attack on this critical overhead resistance.

Either way, LINK remains in a clear uptrend after breaking its multi-month consolidation. Overcoming the final monthly barrier ahead could mark a major milestone for the cryptocurrency.

We recommend eToro 74% of retail CFD accounts lose money. Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.

The post Expert Says ‘Chainlink Is Killing It’ as LINK Faces Final Major Resistance appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ChainLink (LINK) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $17.68
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 11.13 (-100%)

link final major resistance faces chainlink according

link final → Ðåçóëüòàòîâ: 9


2/3 of EU states voted for atrocious Copyright Reform — now all will have to adopt it

The absolute final vote on the incredibly controversial Copyright Reform was held today, with 19 EU member states voting in favor of making it EU law. Despite the Netherlands, Italy, Luxembourg, Poland, Finland, and Sweden voting against the Copyright Reform — and Estonia, Belgium, and Slovenia abstaining — it’ll now be mandatory for all EU countries to implement the law at a national level.

2019-4-15 13:16


EU Parliament just voted on controversial Copyright Reform — the outlook is grim

The EU Parliament just passed versions of the most contested articles of the new Copyright Reform proposal: Article 11 on ‘link tax’ and Article 13 which will enable censorship machines. Axel Voss (CDU, EPP), the rapporteur of the controversial proposal and its biggest supporter, clapped his hands and celebrated once the final votes were in on the new Copyright Reform today at the European Parliament.

2018-9-12 15:06