Home / Chainlink / ChainLink Price Analysis: Bullish Momentum despite Minor Loss

ChainLink Price Analysis: Bullish Momentum despite Minor Loss

Despite Yesterday’s bearish trend, few cryptocurrencies shine out with massive growths one of them is chainlink, the sudden surge in price is the result of Chainlink’s recent partnership with AELF Blockchain for provision of service in decentralized oracle, Chainlink recently quoted

AELF Blockchain will use Oracles from Chainlink to make a connection to data present externally and other such events, also ensuring AELF made data are present across other networks of blockchain.

Taking note of the data from the previous week until now, LINK at the beginning was observed to be trading at $1.7155 marked beyond the baseline on the day September 13, 2019, at 1:35 UTC, the price then reduced by 12.49% happening on the same day timed at 19:35 UTC trading at $1.501. On September 16, 2019, LINK had a slight increase in its value of 9.13% starting the trade at $1.6838 timed at 02:10 UTC.

LINK had another downfall on the same day as it was trading at $1.55104 dropping by 5.33% timed at 12:20 UTC and considering the trade, for now, LINK has gained back to 10.76% to the previous trading price. On September 20, 2019, the coin trading at $1.81 with a 24-hour trading volume of $112,379,285. Price is down -1.3% in the last 24 hours. 

LINK now has a bullish trend despite the minor loss and continues to go in the upward trend as seen now and also promises its investors a better yield to their investments. On the upside there is coin sees resistance at $1.67, $1.72 and $1.77. If there is a downside break below $1.57, the price could continue to decline towards the $1.52 and $1.47 levels

SUMMARY

Examining the previous trade of LINK, Short-term investment is suitable for daily trading, If LINK trades at the same pace, it will touch a higher point, showing complete Bullish conduct. However, the Long-term Investment is a better-opinionated means for both Investors and Traders, LINK is pushing in the Bullish direction and due to this reason, higher returns can be confirmed to its Investors investing at the current trade.

  • 3
    Shares

About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Leave a Reply

Your email address will not be published. Required fields are marked *