Chainlink (LINK) has experienced a surge in bullish sentiment as it rebounded from the $5 support level. In the past week, LINK has surpassed several support levels, resulting in a gain of over 20%. Although there haven’t been significant changes on the daily chart, the technical outlook for the altcoin has turned notably bullish. Both demand and accumulation have shown significant improvement, while the overall strength of the broader market has also contributed to LINK’s upward movement. The positive momentum in major altcoins, driven by Bitcoin surpassing the $30,000 mark, has further added to the optimism. Sustaining this price momentum will largely depend on BTC’s continued upward push. Related Reading: Binance Rescinds Decision To Remove Privacy Coins From European Market While a price pullback cannot be ruled out for LINK, the increased buying power should help prevent a loss of momentum. If LINK manages to maintain its nearest support level, the ongoing price rally is expected to continue as the increase in LINK’s market capitalization suggests the anticipation of further bullish gains. Chainlink Price Analysis: ..
Support the originator by clicking the read the rest link below.
