Decentralized oracles token Chainlink looks primed to gather further momentum after a recent pullback whereby the price has found support at the 50 SMA ($24.93). Today we highlight the possibility of another leg up after this latest price consolidation.
LINK/USD is +136% YTD. LINK/USD found support at the 200 day SMA in late December. LINK/USD then rallied in early January and eventually reached an all time high of $36.89 on 20 February. We have seen a 28.43% retracement in the price in the past week. Now she is perched on the 50 SMA awaiting takeoff.