Chainlink Technical Analysis: LINK Has Reached an All-Time High!


Chainlink (LINK), one of the popular cryptocurrencies, touched an all-time high of $51.17 during the day. LINK climbed above the 50 dollar after breaking the important resistance level, which could trigger a rally in the short term. it attracted attention with a 24% increase in the 24-hour time frame.

LINK Graphics

LINK first gave impetus to the bullish movement that it started on April 18 by breaking the critical resistance level of the 35 dollar. The popular crypto currency, which has turned into a support area of significant resistance levels, has seen a new ATH with 51.17 dollars as of today.

Daily chart data confirm the upward momentum, while the Stochastic RSI signals the continuation of the upward trend. However, while the RSI is positioned at the level of 70, the MACD supports a positive scenario.

Significant resistance levels in front of the popular crypto currency were recorded at $ 53.30 and $ 67.80. However, Altcoinsherpa, a famous crypto currency investor, said that LINK has created a binary peak formation in the $42 resistance area. After this exchange, the price broke through this resistance area and reached an all-time high. LINK is trading at $47.36 at the time of our news.

Will LINK Continue its Upward Trend?

According to short-term charts, experts note that the upward momentum is maintained. Despite the fact that the popular crypto currency has reached the overbought zone, the MACD and RSI indicators remained strong and the upward trend was maintained. On the other hand, in a possible withdrawal move, Chainlink is projected to fall into the $42.70 support area. Although this region is the previous all-time high, it stands out as the critical point that brought the break-in. Experienced analysts noted that as long as the LINK price is trading above $ 42.70, its trend is bullish.

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