After exhibiting a price movement that caught the attention of many from the crypto market, Chainlink’s LINK is all set to extend its value as bulls take over the LINK market.
$10 Next Stop For LINK?
The crypto-verse is no longer in its nascent stage. Coins apart from Bitcoin have been gaining immense value. The latest altcoin rally further fueled the price of several coins. One of which was Chainlink’s LINK token. This altcoin steered the entire market and had the community gazing at its price change. Mid-July, the coin hit an all-time high of $8.73 and was quick enough to breach it once again.
Just today, LINK was trading at a low of $8.52 and surged to a high of $9.63. During the time of writing, the altcoin was trading at an all-time high of $9.62 with a 15.3 percent increase over the last 24-hours. The recent altcoin rally seemed to have significantly impacted the price of LINK as it recorded a whopping 100.2 percent surge in its price over the last 30 days.
Along with its price, the coin also climbed up the market cap ladder and took over prominent cryptocurrencies like Binance Coin [BNB] as well as EOS as the ninth-largest crypto asset. During press time, LINK was viewed as the second-largest gainer over the last 24-hours.
LINK Welcomes The Bulls
After spectating LINK’s price movement, the community was sure that the altcoin would soon go beyond $10. In sync with the community’s bullish sentiment, a few key indicators also revealed the presence of bulls in the LINK market.
Even though the volume of this altcoin was significantly low, the MACD line which was lounging below the signal line for the longest time, finally witnessed a bullish crossover. As seen in the chart, the MACD line was above the signal line further revealing the presence of bulls in the market.
The Relative Strength Index [RSI] indicator also revealed extreme bullish signs as the RSI market was way above the 50 median. The chart indicated that LINK was in the overbought zone as the marker was at 73.3 median.
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at email@example.com