Chainlink broke out to a new ATH today at just under $38. As of posting, Link is backtesting the previous ATH for support. Simultaneously, BTC dominance is downtrending and broke under 54.80. Once support is confirmed for Link above previous ATH of $36.92, price is very likely to move higher and enter price discovery. Link also has very positive social sentiment and a strong, vocal supporter group.
Targets to the upside could be 1.618 Fib extension from previous ATH to subsequent swing low, projecting $47 Link. Or, if measured to the more recent swing low, approximately $45.
Targets to the upside could be 1.618 Fib extension from previous ATH to subsequent swing low, projecting $47 Link. Or, if measured to the more recent swing low, approximately $45.
Comment:
MACD showing a bullish crossover, combined with RSI in bullish but not overextended territory support the chances for further upside.
Trade active:
Link currently over $40 USD after finding support above previous ATH, and confirmed breakout with volume on the daily chart. Still has room to move upward!