Chainlink’s all-time high is forming now as LINK managed to break a key level and got stronger in the past few days since it was exposed to the upside that was seen across the aggregated crypto market as bulls take full control so let’s read more in today’s Chainlink coin news.
The price surmounted a few key resistance levels that slowed the increase in the past and it is now only a step away from setting a fresh all-time high. The cryptocurrency is facing an intense resistance in the lower $16,000 region as each attempt to break above the zone resulted in a massive inflow of selling pressure. If LINK remains trapped below the price level, it will see another prolonged bout of consolidation or a new downside in the near-term depending on how the aggregated market trends in the days and weeks ahead.
One trader noted the importance of the price level noting a break above it that could shoot Chainlink to a new fresh high and will even open the gates for a move into the mid $20,000 region. In order to take place, it will require that the rest of the market continues holding strong with BTC maintaining the position above the $19,000 and ETH holding $600. Chainlink’s all-time high could be set soon as the coin is trading up just under 3% with a current price of $15,65 which around the same level at which it was trading over the past day. It has made two previous attempts to break above the $16.00 over the past 24hours but there were some heavy bouts of selling pressure that stopped in its tracks.
Where will LINK trend next into the end of the year depending on its continued reaction to this level. One trader explained in a recent tweet that LINK could be on the cusp of rallying up to a fresh all-time high with the $16,00 which is considered as the last key resistance that will be needed to flip into support. Once the resistance support flip happens, the cryptocurrency will see a huge price rise that allows it to a huge advance:
“LINK won’t be long until it busts through $16 and new ATH’s.”
How BTC and ETH will trend in the near-term will have a huge influence on Chainlink’s price so long as they remain in the current uptrend with a strong possibility that the upside is imminent.
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