The crypto market’s ongoing uptrend is set to keep the investors awake in this lockdown period. While BTC is just a little away from $10,000 since yesterday, such bullishness has lifted the spirit of altcoins like LINK too. However, Chainlink may enter the top altcoins league soon. A few factors behind that include its recent price rise along with some humongous collaborations.
the year is 2020 and #chainlink has over 179 different partnerships, collaborations or integrations
chainlink is indeed exponentially increasing the scope of what crypto can do
the absolute standard
just one year after launching on eth mainnet! https://t.co/iQhFwFdks9
— ⛓🐂 (@ChainlinkBull) May 5, 2020
Recently, the news was making rounds stating how Chainlink is fetching support from an exchange giant like Coinbase.
Chainlink Price Analysis
LINK price has been through a few ups and downs over the last 24 hours. The currency, over the last 24 hours, has formed an inverted Head and Shoulder pattern with a strong bullish bias. Moreover, despite minimal corrections, the coin has remained above the 38.20% fib level.
Chainlink’s price noted its lowest price point at $3.70. The way the coin keeps trading around $3 only, which puts it in the range-bound area.
The coin initiated its short-term price escalation at 14:00 UTC, and it formed a couple of higher highs at $3.84 and $3.88. LINK price surged by more than 4%, and further rally can be anticipated. Here, the coin holds a stable RSI with a bearishly moving MACD indicator.