Chainlink - Primed for Takeoff
Decentralized oracles token Chainlink looks primed to gather further momentum after a recent pullback whereby the price has found support at the 50 SMA ($24.93). Today we highlight the possibility of another leg up after this latest price consolidation.
LINK/USD is +136% YTD. LINK/USD found support at the 200 day SMA in late December. LINK/USD then rallied in early January and eventually reached an all time high of $36.89 on 20 February. We have seen a 28.43% retracement in the price in the past week. Now she is perched on the 50 SMA awaiting takeoff.
Recent news reports announced that Chainlink has achieved a Key Scalability Upgrade with the launch of Off-Chain Reporting (OCR): prnewswire.com/news-releases/chainlink-achieves-key-scalability-upgrade-with-launch-of-off-chain-reporting-ocr-301234198.html
The price may surge as a result of favorable chart set-up and positive fundamental news.
We are +5645% on Link/USD since March 2019. We remain bullish on Chainlink.
LINK/USD is +136% YTD. LINK/USD found support at the 200 day SMA in late December. LINK/USD then rallied in early January and eventually reached an all time high of $36.89 on 20 February. We have seen a 28.43% retracement in the price in the past week. Now she is perched on the 50 SMA awaiting takeoff.
Recent news reports announced that Chainlink has achieved a Key Scalability Upgrade with the launch of Off-Chain Reporting (OCR): prnewswire.com/news-releases/chainlink-achieves-key-scalability-upgrade-with-launch-of-off-chain-reporting-ocr-301234198.html
The price may surge as a result of favorable chart set-up and positive fundamental news.
We are +5645% on Link/USD since March 2019. We remain bullish on Chainlink.
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