Why am I bullish on Chainlink?
A plain and simple comparison to an early chart of ETHUSD price movements around March - April 2017 can indicate that a similar path could be followed by LINKUSD and I would not rule out potential for parabolic moves higher in the near future.
Such path followed by ETHUSD which surpassed the given Fib Extension level of 4.236 would give a potential target of ~90 USD for Chainlink which is still in early stages of adoption having only been founded in 2017, nonetheless having already forged a partnership with Google back in 2019.
Levels to keep an eye on the the coming weeks would be the $38.6 level and the psychological $50 mark.
Both technologies are fairly new and disruptive, based around a self-executing contract also known as a smart contract - having the potential to bring about transparency and trust to virtual business agreements.
To put things into perspective within the crypto space:
- Bitcoin has seen a move higher of 391% in the past year,
- Ethereum at 580%,
- Chainlink quietly making gains of 671%.
Chainlink has moved to an ATH at $35 over the weekend after a move higher from the $25 handle.
Trade with caution, this is not financial advice - all views expressed are my own.
Such path followed by ETHUSD which surpassed the given Fib Extension level of 4.236 would give a potential target of ~90 USD for Chainlink which is still in early stages of adoption having only been founded in 2017, nonetheless having already forged a partnership with Google back in 2019.
Levels to keep an eye on the the coming weeks would be the $38.6 level and the psychological $50 mark.
Both technologies are fairly new and disruptive, based around a self-executing contract also known as a smart contract - having the potential to bring about transparency and trust to virtual business agreements.
To put things into perspective within the crypto space:
- Bitcoin has seen a move higher of 391% in the past year,
- Ethereum at 580%,
- Chainlink quietly making gains of 671%.
Chainlink has moved to an ATH at $35 over the weekend after a move higher from the $25 handle.
Trade with caution, this is not financial advice - all views expressed are my own.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.