Chainlink price soars 10% amid stability in the Bitcoin market

Chainlink (LINK) over-10% growth in the last 24 hours places it among the most bullish and best-performing cryptocurrencies even as Bitcoin and other cryptocurrencies struggle to sustain gains. After dipping last week down to $3.12, LINK has risen to $4.66, close to its all-time high at $4.90.

The surge is supported by significant growth in Chainlink’s trading volume from $340 million on February 25 to $622 million. This clearly shows that sentiments towards the crypto are positive and investors are actively buying.

The daily range shows the RSI having recovered from a recent dip to 45. The RSI is now settled above 60 and pointing upwards. In other words, Chainlink still has more room for growth despite the surge since the beginning of March.

The price also trading above the moving averages, where the wide gap made by the 50-day SMA above the 200-day SMA suggests that the bulls are strongly in control. The 50 SMA provides support in the event of a drop towards $3.50 while the 200 SMA holds ground at $2.61.

LINK/USD daily chart

LINK/BTC shows exemplary strength"

Chainlink against BTC bullish moment is strong and forming a higher-high pattern since the beginning of 2020. The support at 0.00035 BTC and 0.000456 BTC has been instrumental in the growth experienced since March 1. There is a bullihs cross above the MACD suggesting that the bulls could remain in charge in the coming sessions.

LINK/BTC daily chart