ronanmorley

LINK/BTC UPTREND STILL INTACT

Long
BITBAY:LINKBTC   LINK / BTC
While much of the attention has been on Bitcoin lately with an all time price high imminent, do not forget about the top performer in the crypto market for the past three years ie. Chainlink. $LINK is +787% YTD compared to Bitcoin +166%. Chainlink took a well deserved breather after a stunning rally which started in earnest late 2017 at $0.13 and rocketed 15284% to reach $20 in August 2020.

On the LINK/BTC chart, Chainlink has pulled back after that monster move but the uptrend is still intact with the price settled at a rising 200 day moving average and recent volume looks more promising. The fundamentals have not changed for Chainlink as it continues to be the most dominant oracle network in DEFI.

We went long Chainlink in early 2018 and are +3347% on that initial trade. We remain very bullish .
Comment: Correction: we went long Chainlink in early 2019.

Comments

thanks for analisys! Could you please tell your estimate price target for near future?
Reply
@kan13, $16.40 resistance to beat next but probably not at first attempt. Pullback to $13.50 - $14 likely (200 MA which has been recent support). You could get a nice entry point there.
+1 Reply
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