{"id":5164,"date":"2020-10-22T21:00:28","date_gmt":"2020-10-22T21:00:28","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=447411"},"modified":"2020-10-22T21:00:28","modified_gmt":"2020-10-22T21:00:28","slug":"chainlink-is-on-the-edge-of-glory-as-indicators-begin-flipping-bullish","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/chainlink-is-on-the-edge-of-glory-as-indicators-begin-flipping-bullish\/","title":{"rendered":"Chainlink is \u201cOn the Edge of Glory\u201d as Indicators Begin Flipping Bullish"},"content":{"rendered":"

Chainlink<\/a> has been one of the best performing major altcoins throughout the past 24-hours, with its slight underperformance of BTC throughout the past few days being erased by an intense overnight upswing.<\/p>\n

This has allowed it to gain a strong foothold within the $11.00 region, and it is now targeting a move past $12.00 as bulls begin rotating their profits away from Bitcoin and into altcoins.<\/p>\n

LINK’s upswing could also be emblematic of a renewed sense of bullishness within the entire DeFi space, as many of the tokens residing within the sector are beginning to see slight uptrends.<\/p>\n

So long as Bitcoin and Ethereum remain bullish in the near-term, traders will likely continue moving capital into higher-risk assets in hopes of outperforming BTC.<\/p>\n

One analyst is now noting that Chainlink is “on the edge of glory” following its strong overnight upswing.<\/p>\n

He believes that the cryptocurrency will see massive gains in the near-term if it can flip $11.50 into support, as this would cause an ultra-bullish indicator to flash.<\/p>\n

Chainlink Rallies to $11.50 as Bitcoin Buying Pressure Spills into Altcoins<\/strong><\/h2>\n

At the time of writing, Chainlink is trading up nearly 7% at its current price of $11.50. This has long been a resistance level for the crypto, and it is now attempting to flip it into support.<\/p>\n

Just a couple of days ago, strong inflows of selling pressure sent LINK’s price all the way down to $9.80.<\/p>\n

It has since posted a massive recovery from these lows and isn’t showing any signs of reverting its strength.<\/p>\n

So long as Bitcoin<\/a> and Ethereum remain in bulls’ control, major altcoins like Chainlink will likely also see heightened strength.<\/p>\n

Indicator Suggests LINK is About to See a Massive Push Higher<\/strong><\/h2>\n

One analyst recently pointed to<\/a> Chainlink’s Renko chart, noting that a break above $11.50 will likely be enough to flip its guppy indicator green.<\/p>\n

This could mark the start of its next massive uptrend and indicate that new all-time highs are imminent.<\/p>\n

\n

“LINK on the verge of glory again. >$11.50 and it’s another full colour flip. The last one was pretty special.”<\/p>\n<\/blockquote>\n

\"Chainlink<\/p>\n

Image Courtesy of Cold Blooded Shiller. Source: LINKUSD on TradingView.<\/a><\/pre>\n
If Chainlink<\/a> continues pushing higher in the near-term, it could indicate that the entire altcoin<\/a> market is well-positioned to see further upside.<\/p>\n
DeFi altcoins, which have been particularly hit hard by the recent market-wide downturn, may lead this next rally.<\/p>\n
Featured image from Unsplash.\nCharts from TradingView.<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Chainlink has been one of the best performing major altcoins throughout the past 24-hours, with its slight underperformance of BTC throughout…<\/p>\n","protected":false},"author":1,"featured_media":5165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[317,210,211,212],"class_list":["post-5164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-link","tag-linkbtc","tag-linkusd","tag-linkusdt"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5164"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=5164"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/5165"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=5164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=5164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=5164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}