{"id":5987,"date":"2020-12-13T23:00:34","date_gmt":"2020-12-13T23:00:34","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=452136"},"modified":"2020-12-13T23:00:34","modified_gmt":"2020-12-13T23:00:34","slug":"chainlink-could-be-on-the-cusp-of-rocketing-higher-as-strength-against-btc-grows","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/chainlink-could-be-on-the-cusp-of-rocketing-higher-as-strength-against-btc-grows\/","title":{"rendered":"Chainlink Could be on the Cusp of Rocketing Higher as Strength Against BTC Grows"},"content":{"rendered":"<ul>\n<li>Chainlink has seen some mixed price action over the past few days and weeks, with sellers previously taking control of its price<\/li>\n<li>The cryptocurrency is now showing some signs of strength as the entire market begins to rebound and climb higher<\/li>\n<li>One trader believes that a move higher could be imminent in the near-term, with it now aiming to break above $13.00 as its momentum begins building<\/li>\n<li>The trader believes that strength against the cryptocurrency&rsquo;s BTC trading pair could also be a sign that upside is imminent in the near-term<\/li>\n<\/ul>\n<p>Chainlink has been on a wild ride over the past few days and weeks, with its price action largely tracking Bitcoin and the rest of the crypto market.<\/p>\n<p>LINK&rsquo;s close ties to <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-surges-to-key-resistance-analysts-expect-a-move-to-16000\/\">BTC<\/a> and ETH&rsquo;s price action caused it to see an intense selloff earlier this week, with Bitcoin plunging to lows of $17,600 while ETH dropped as low as $528.<\/p>\n<p>The buying pressure at these lows proved quite intense and helped the cryptos see an explosive surge that sent them back up towards their all-time highs.<\/p>\n<p>LINK still has a way to rally before it reaches its all-time highs in the lower-$20.00 region, but a move to here could be imminent as its technical strength begins shaping up &ndash; according to one analyst.<\/p>\n<h2><strong>Chainlink Rallies Towards $13.00 as Market-Wide Uptrend Takes Off<\/strong><\/h2>\n<p>At the time of writing, <a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/bitcoin-begins-to-correct-below-17000-where-traders-say-btc-is-heading\/\">Chainlink<\/a> is trading up over 6% at its current price of $12.95. This marks a notable climb from its recent lows of $11.60 set just a couple of days ago.<\/p>\n<p>The <a href=\"https:\/\/www.newsbtc.com\/analysis\/indicator-shows-bitcoins-selloff-may-be-running-out-of-steam\/\">resistance<\/a> here does appear to be somewhat intense, as it rallied as high as $13.20 earlier today before facing an influx of selling pressure that caused its price to plunge.<\/p>\n<p>It has since rebounded and could see notable gains once it can break above its near-term resistance level.<\/p>\n<h2><strong>Analyst Claims LINK is Building Strength Against BTC<\/strong><\/h2>\n<p>One analyst <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/1338058770325381120\">explained<\/a> in a recent tweet that Chainlink could be on the cusp of seeing some massive momentum in the days ahead.<\/p>\n<p>He points to some strength that is beginning to emerge while looking towards LINK&rsquo;s BTC trading pair.<\/p>\n<blockquote>\n<p><span class=\"r-18u37iz\">&ldquo;LINK<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">: I&rsquo;ve been non stop talking about using LINK shorts as a BTC hedge. I personally have been closing that hedge out this morning. Finally seeing some strength creep back into LINK\/BTC. The link marines lost the battle but might win the war.&rdquo;<\/span><\/p>\n<\/blockquote>\n<p><img decoding=\"async\" loading=\"lazy\" width=\"860\" height=\"449\" class=\"aligncenter size-large wp-image-452137\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl-860x449.jpg\" alt=\"Chainlink LINK\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl-860x449.jpg 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl-460x240.jpg 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl-768x401.jpg 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl-750x392.jpg 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl-1140x596.jpg 1140w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2020\/12\/EpG9SWWW8AEtrkl.jpg 1200w\" sizes=\"(max-width: 860px) 100vw, 860px\"\/><\/p>\n<pre>Image Courtesy of DonAlt. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/LINKUSD\/\">LINKUSD on TradingView<\/a>.<\/pre>\n<p>The coming few days should shed some serious light on where the <a href=\"https:\/\/www.newsbtc.com\/analysis\/yfi\/its-bounce-or-die-for-yearn-finances-yfi-as-selling-pressure-ramps-up\/\">cryptocurrency<\/a> will trend in the weeks ahead.<\/p>\n<pre>Featured image from Unsplash.\nCharts from <a href=\"https:\/\/www.tradingview.com\/symbols\/LINKUSD\/\">TradingView<\/a>.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink has seen some mixed price action over the past few days and weeks, with sellers previously taking control of its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":5988,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[317,210,211,212],"class_list":["post-5987","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\/5987"}],"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=5987"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/5987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/5988"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=5987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=5987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=5987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}