Lorenzo Stroe
Independent Analyst
- LINK/USD is getting even more continuation after a tremendous bull rally already.
- ChainLink price is currently $8.32 way above the daily 12-EMA.
ChainLink is one of the best performing coins in the last two weeks after a massive 100% bull rally. LINK is up 450% since the low of March 13 and continues climbing the market capitalization ladder. ChainLink is now fairly close to Bitcoin SV and Cardano, both at $3.3 billion.
LINK/USD daily chart
-637304254832073042.png)
Obviously LINK price is getting pushed by the FOMO while the RSI remains extremely overextended. If LINK starts consolidating, the $8 psychological level will be the nearest support point followed by $7 and the daily 12-EMA.
LINK/USD 4-hour chart
-637304255016135898.png)
The 4-hour chart is surprisingly healthy with short periods of consolidation followed by clear continuation moves. The bulls have been defending the 12-EMA several times in a row. The RSI is currently overbought and LINK is forming a bearish reversal candlestick.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC & ETH rebound, XRP rallies ahead of CPI data
Bitcoin and Ethereum prices continue to recover on Wednesday after finding support around their key levels this week. On the other hand, Ripple remains strong and found support around its upper symmetrical triangle boundary.
Ripple donates $100,000 to California wildfire relief efforts; XRP investors anticipate SEC's opening brief
Ripple is up 5% on Tuesday following recent positive developments surrounding its ecosystem and JP Morgan's prediction of over $8 billion in inflows into XRP ETF if it gains approval from the Securities and Exchange Commission.
Bitcoin could lose its diversification status as correlation with stocks increases
Bitcoin's rising correlation with the traditional stock market is gradually affecting its role as a portfolio diversifier. This trend has been visible following Bitcoin's similar reactions to the S&P 500 upon macroeconomic data releases.
Crypto Today: BTC taps $97K, DOGE and XRP in green as SEC sues Musk ahead of Trump Inauguration
The cryptocurrency sector rose by 2.4% on January 14, with the aggregate market capitalization crossing $3.3 trillion. Bitcoin price reclaimed the $97,000 resistance level, with technicals signaling upside ahead.
Bitcoin: Room for a recovery or continuation of the pullback?
Bitcoin’s price slightly recovers and trades around $94,700 on Friday after declining nearly 6% earlier this week. US Bitcoin spot Exchange Traded Funds data shows signs of mild recovery, with a total net inflow of $462.2 million until Thursday.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.