{"id":5416,"date":"2020-11-11T23:00:35","date_gmt":"2020-11-11T23:00:35","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=449540"},"modified":"2020-11-11T23:00:35","modified_gmt":"2020-11-11T23:00:35","slug":"chainlink-is-an-inch-away-from-breaking-a-key-resistance-level-analyst","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/chainlink-is-an-inch-away-from-breaking-a-key-resistance-level-analyst\/","title":{"rendered":"Chainlink is an Inch Away from Breaking a Key Resistance Level: Analyst"},"content":{"rendered":"

Chainlink has firmly broken above the $13.00 level that has been suppressing its price action for the past few weeks. This is a notable breakout and suggests that the crypto may be on the cusp of seeing significantly further upside.<\/p>\n

Its price has been stuck below this level for the past several weeks, and breaking above it today was a major step towards it revisiting its previous all-time highs in the weeks ahead.<\/p>\n

Analysts are now widely flipping long on the cryptocurrency<\/a>, with its ongoing upswing being bolstered by a combination of technical strength and tailwinds created by the ongoing breakout seen by Bitcoin, Ethereum, and the rest of the crypto market.<\/p>\n

One trader is specifically looking towards the cryptocurrency seeing a sharp move up towards $14.00 in the near-term, noting that the resistance here may slow its ascent slightly before seeing a breakout past $15.00.<\/p>\n

Because the entire crypto market is looking strong, there’s a strong possibility that significantly further upside could come about in the weeks ahead. Once it breaks above $15.00, a move back to its all-time highs could be in the cards.<\/p>\n

Chainlink Flashes Signs of Strength as Bulls Break $13.00 Resistance<\/strong><\/h2>\n

At the time of writing, Chainlink<\/a> is trading up just over 2% at its current price of $13.31. The $13.00 level has held strong as resistance on multiple occasions throughout the past few weeks.<\/p>\n

Today’s break above this level is promising and indicates that bulls are in full control of its price action.<\/p>\n

Where it trends next will depend largely on whether this level can be flipped into support, as an ability to do so could help catalyze significantly further momentum.<\/p>\n

Analyst: LINK Likely to Push Past $14.00 as Buying Pressure Mounts<\/strong><\/h2>\n

While sharing his thoughts on where Chainlink might trend in the near-term, one analyst explained<\/a> that he is watching for a move to $14.00, followed by a rally to $15.00.<\/p>\n

\n

“LINK – Heatmap. Run it back turbo. I see no reason to short LINK here, I fully expect it to tap that 13.8-14 resistance, before mowing through it to 15…,” he said while pointing to the targets highlighted on the below chart.<\/p>\n<\/blockquote>\n

\"Chainlink<\/p>\n

Image Courtesy of NekoZ.<\/pre>\n
If this plays out how he expects, then the coming few days could be incredibly positive for Chainlink and potentially lead it back towards $20.00. This will likely come about in tandem with a push higher by the rest of the market<\/a>.<\/p>\n
Featured image from Unsplash.\nLINKUSD pricing data from TradingView<\/a>.<\/pre>\n","protected":false},"excerpt":{"rendered":"
Chainlink has firmly broken above the $13.00 level that has been suppressing its price action for the past few weeks. This…<\/p>\n","protected":false},"author":1,"featured_media":5417,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[317,210,211,212],"class_list":["post-5416","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\/5416"}],"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=5416"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/5417"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=5416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=5416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=5416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}