Chainlink broke out to a new ATH today at just under $38. As of posting, Link is backtesting the previous ATH for support. Simultaneously, BTC dominance is downtrending and broke under 54.80. Once support is confirmed for Link above previous ATH of $36.92, price is very likely to move higher and enter price discovery. Link also has very positive social sentiment and a strong, vocal supporter group.
Targets to the upside could be 1.618 Fib extension from previous ATH to subsequent swing low, projecting $47 Link. Or, if measured to the more recent swing low, approximately $45.
Targets to the upside could be 1.618 Fib extension from previous ATH to subsequent swing low, projecting $47 Link. Or, if measured to the more recent swing low, approximately $45.
Comment
MACD showing a bullish crossover, combined with RSI in bullish but not overextended territory support the chances for further upside.Trade active
Link currently over $40 USD after finding support above previous ATH, and confirmed breakout with volume on the daily chart. Still has room to move upward!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.