After breaking above the $5 level, LINK price surged nearly 100% in a matter of days and ended by making a new all-time high at $8.40.
The previous resistance at $6.57 can be confirmed as support, which would suit a renewed test of the $8.50 resistance level.
A clearer signal would be a corrective move towards the $5 level, as that used to be a significant resistance zone before the massive breakout occurred.
The 4-hour chart shows a bright support/resistance flip of the $5.70 level, which caused continuation and the price to accelerate towards $8.50.The most likely scenario is a test of the previous high for support.
If the $6.50 level is lost, further downward pressure is likely to occur on the markets with a potential retest of the $5 level.
As the saying goes, the more often a resistance gets tested, the weaker it becomes.
In the case of Bitcoin, the resistance zone at $10,000-$10,500 has been a tough area to surmount for a year already and for LINK the 0.00055000 sats barrier has been a resistance zone for seven months.
The pair secured support at the $2.40 level before continuation and acceleration towards $3 occurred.
The $3 resistance area has been tested three times now and it's possible that another test of the resistance zone will see the price finally push through it.
If Tezos manages to break through the all-time high levels, the sky's the limit and savvy traders can look to the Fibonacci extensions in order to determine new targets.
Chainlink Becomes the 'Tesla' of Cryptocurrency
에 게시 됨 Jul 13, 2020
by Cointele | 에 게시 됨 Coinage
Coinage
이 기사에서 언급
최근 뉴스
모두보기
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.