Chainlink Hits Fresh ATH Above $14 & Retains Strong Support

Chainlink (LINK) News

Chainlink has been often compared to XRP in terms of investment and returns to the investment proportionate to time. Chainlink and XRP are ranked amongst the top 10 cryptos of the market, and the former has been fetching stupefying returns so far. XRP, on the other hand, has regained its position amongst the top 3 cryptos of the market after Bitcoin and Ethereum, which was formerly taken over by Tether.

XRP, beyond doubt, has been a great investment and is also one of the blue-chip cryptos of the market, while, LINK has made its way through other cryptos and taken over 6th position after Bitcoin Cash. Chainlink has enticed a number of strategic partnerships and has made the platform worth investing due to its underlying technology and security.

Chainlink Price Analysis

At the time of penning down this analysis, Chainlink was trading at $13.5 and retained complete support on the intraday chart against the US Dollar. LINK had hit a fresh All-time High at $14.25 just yesterday. The currency has been gradually rising and giving fresh ATHs. However, the coin in the intraday has experienced the slightest pullback and is now trading below $14 at $13.5 and has been maintaining its stance above 61.80% Fib Retracement level.

On the intraday chart, we emphasize the 10-day, Month-To-Date movement of LINK/USD, and it is since yesterday the coin is trading above 61.80% Fib. The 20-day Bollinger Bands do not exhibit any unprecedented volatile breakout in the short-term, and we believe this to be a real bullish crossover. It was just yesterday when BTC has reclaimed its trading position above $12k, and in accordance with that, Chainlink had hit a fresh ATH too.

LINK/USD is retaining complete support from 50-day and 200-day daily MAs, despite the bearish divergence on the MACD chart due to intraday pullback below $14.