For a long time, $15 has been a significant psychological barrier for Chainlink (LINK). The coin has attempted to stay above that level many times this year. But it has succumbed as market volatility continues to surge.

So, what will happen now? Here are some hints:

  • Chainlink is a decentralized oracle network that provides reliable data to smart contracts on the Ethereum blockchain.
  • For the first time in many weeks, LINK has broken $15.
  • The LINK token is used to pay node operators for providing data and completing transactions.
  • The $15 mark had also proven to be a significant overhead resistance for LINK’s upswings.
  • Chainlink was one of the best-performing assets in 2020, with gains of over 600%.
  • The bulls have the momentum, but it’s possible that they may lose it.
Data Source: Tradingview

Link Chainlink (LINK) – Price forecast and analysis

For the LINK bulls, converting $15 of overhead resistance into support is a significant step. The cryptocurrency has broken through this level for the first time in a while and is based on current price action.

It appears to be attempting to consolidate. Now that we have seen how long LINK can keep the price above $15. The major question is whether or not it can sustain this momentum.

The Chainlink token was one of the best-performing assets in 2020. The LINK price surges from $0.38 in January to an all-time high of $19.84 in mid-December, resulting in gains of over 5,000%.

If bulls can drag it off, the coin will most likely move on to test the next overhead resistance zone at $18. We anticipate that LINK will rise to around $19.5 before attempting to establish more demand because of the present bullish momentum.

Chainlink has been on an absolute tear lately. After a present dip in early September, the digital asset has surged over 60% to its current price of $15.32.

This recent rally has been fueled by increasing institutional interest and adoption. In the last month alone, major companies like Google, Oracle, and SWIFT have announced partnerships with Chainlink.

With many short-term traders expected to secure their profit at that level. We anticipate a little pullback when LINK breaks through $19.5 in the near term.

Furthermore, the RSI is presently neutral, indicating that any bull run will eventually come to an end in a few days.

Chainlink’s price is now well above its moving averages. Which could mean that a period of consolidation is on the cards in the short-term.

Looking at the 4-hour chart, it seems like LINK could retrace to $17.50 before resuming its uptrend. The bears will look to take control if Chainlink slides below this level.

Is it time to invest in Chainlink (LINK)?

Chainlink (LINK) is a blockchain project that was founded in 2017. And has since risen to become one of the most prominent blockchain technologies worldwide. It’s presently low from its all-time highs, but it also means it’s an excellent opportunity to get right now.

Chainlink’s recent price rise comes as the result of increasing institutional interest in cryptocurrencies. From high-profile investors like hedge fund manager Paul Tudor Jones to corporations like Square.

Mainstream companies are turning to Bitcoin and other digital assets to protect their portfolios against inflation. This increased demand has led to a surge in prices across the crypto market,

Chainlink has been one of the best-performing cryptocurrencies in 2020 so far, with its price rising by more than 400%.

The digital asset hit a new all-time high of $20.32 on September 1. And has since pulled back to trade at $15.32 at press time.

Therefore, any investors worth their salt should have Chainlink; here’s where you can purchase Chanlink

James Atkins

I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.