Decentralized oracles token Chainlink continues to gain momentum now that its price has reached new all-time highs.
LINK/USD has doubled in the past few weeks. We have been highlighting the possibility of another leg up after the recent price consolidation. LINK/USD broke through the 100 day SMA in early January and has not looked back.
The Relative Strength Index (RSI) is 18% below where it was in mid-August 2020 so we may have some room to run. RSI confirmed its bullish trend on 11 January last as it crossed the 50 mark. Stochastics is still bullish as it heads into overbought territory. MACD turned positive at the turn of the year and looks over-extended relative to it's one year price history displayed.
LINK/USD is trading at $23, well above the 8 day EMA ($19.83) which is around the level of the highs reached last August 2020, therefore providing short-term support. The 100 day SMA currently lies at $13.11.
LINK/USD has doubled in the past few weeks. We have been highlighting the possibility of another leg up after the recent price consolidation. LINK/USD broke through the 100 day SMA in early January and has not looked back.
The Relative Strength Index (RSI) is 18% below where it was in mid-August 2020 so we may have some room to run. RSI confirmed its bullish trend on 11 January last as it crossed the 50 mark. Stochastics is still bullish as it heads into overbought territory. MACD turned positive at the turn of the year and looks over-extended relative to it's one year price history displayed.
LINK/USD is trading at $23, well above the 8 day EMA ($19.83) which is around the level of the highs reached last August 2020, therefore providing short-term support. The 100 day SMA currently lies at $13.11.