Chainlink Reclaims $16 as Oracle Demand Strengthens — Trend Still Bullish
Chainlink has bounced back to the $16 mark as the need for its oracle services rises. Investors show optimism as the market remains positively inclined. The article will explore which coins are poised for growth in this bullish trend. Dive in to uncover the potential winners in this thriving sector.
Chainlink's Price Rally Sparks Optimism for Further Growth
Source: tradingview
Chainlink (LINK) is on an optimistic path, currently trading between nearly $14 and $18. In the past week, LINK has seen an increase of almost 7%. Its short-term 10-day moving average sits above $16, showing some upward momentum. Looking ahead, there's potential for LINK to break past $19, marking a key resistance point, with a more challenging climb toward roughly $24 if momentum continues. However, there's also a support cushion near $12. If LINK surpasses these resistance levels, it could mean an additional rise of around 10% to 30% from its current range. This sets a promising tone as Chainlink continues its upward journey, leaving traders hopeful.
Conclusion
LINK has shown strong performance by reaching $16. The demand for its oracle services is growing. This support suggests positive momentum for the coin. Other tokens like Bitcoin, Ethereum, and Polkadot could also benefit from this trend. The bullish outlook for LINK remains intact. Overall, the current signs point to ongoing strength.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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