Chainlink is finally joining the crypto price rally after LINK’s price broke above $16. Our technical analysis indicates that there is plenty of room for a price rally passed $20 and on to a new all-time high (ATH).
Chainlink has been lagging behind Bitcoin and the rest of the crypto market over the past few weeks, hovering around the low $10 range. As of LINK’s overnight rally, the LINK price has now gained around 50% since the start of 2021.
LINK’s price has seen a massive surge from its recent lows of $8.00 that were set in December when the entire market experienced a temporary downtrend. At the time of writing, the Chainlink price up over 15.54% in the last 24hrs and its current price is $16.68 according to CoinMarketCap.
As Bitcoin and Ethereum rallied bringing most of the crypto market along for the ride, LINK appeared to face intense resistance at around the $14 dollar level. After breaking through this resistance where it has consolidated the past week, LINK…