ChainLink Technical Analysis: LINK sees another 14% price explosion after brief and healthy consolidation
- LINK/USD is up by more than 14% in the last 24 hours and on the verge of a new all-time high.
- LINK bulls managed to cool off several indicators through a healthy consolidation period.
ChainLink is one of the best performing coins in the market despite the heavy criticism it has received in the past few months. Currently, the price of LINK is stable at around $14 and bulls are eying up $14.48, the last all-time high.
LINK/USD 4-hour chart
Again, the buyers managed to defend the daily 26-EMA and bounced back up above $13. This bull rally is extremely healthy as buyers have been able to establish clear levels of support on the way up.
LINK/USD 1-hour chart
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Clearly, LINK’s momentum has shifted in favor of the buyers as the 12-EMA and 26-EMA crossed bullishly again. LINK is not facing many resistance levels, most notably, it will need to break $14.29 and $14.48.
Author
Lorenzo Stroe
Independent Analyst
Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.
