Chainlink (LINK) is the biggest decentralized oracle project in the crypto space based on market capitalization. LINK started gaining upward momentum after the general market correction took place a few days ago. The coin bounced off the support at $9, and it is now attempting to break the $12.85-$13.4 resistance.
The Opportunity After LINK breaks its current resistance, the next resistance stands around $16.2, 25% away from the current price. A conservative entry would be just above the present resistance around $13.5, with $15.5 as the target. The target at $15.5 is well below the next major resistance level, and it is likely to be hit if the crypto market recommences a bull run.
This opportunity, from $13.5 to $15.5, offers a potential profit of almost 15%. As the trader, you are the ultimate decision-maker and have to decide whether this opportunity is right for you.
Looking Ahead: The coin has just been rejected for the third time by this resistance level. Therefore, if the breakthrough does take place, it will be all the stronger.