ChainLink Technical Analysis: LINK/USD hits a new all-time high at $8.89 and gets close to a $3 billion market capitalization
- 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
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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
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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.
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.
