Technical Analysis: ChainLink (LINK) Defies Expectations With Continued Momentum
ChainLink (LINK) had the smallest crash among top cryptocurrencies at the end of September and the bulls were quick to push the price back up. Following the crash, LINK had been trying to form a daily uptrend that wasn’t confirmed until 3 days ago when the altcoin took off.
The daily resistance was set at $2.06 back in September and the bulls obliterated this level with 3 consecutive days of gains.
LINK is now up around 30% since Sunday and the EMAs have crossed over in a bullish fashion. The altcoin is currently trading for $2.58, well above both EMAs. The RSI is overextended but that doesn’t seem to be stopping the bulls, however, LINK is likely to experience some consolidation in the next few days.
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Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.