Chainlink (LINK), one of the most popular crypto currencies in recent months, has started to experience a serious decline in recent days. The successful altcoin recovered after this correction and rose again to the $ 15 levels. According to analysts, the direction LINK will continue depends on the breaks to be experienced. However, there are more analysts who are generally positive about the movement of the cryptocurrency.
Crypto Michael, an expert in the field, made predictions on Chainlink. The analyst stated that if LINK holds the $ 14-14.5 level, it could rise again to $ 17 and above.
And the $16 rejected here.
— Crypto Michaël (@CryptoMichNL) August 23, 2020
Michael had stated that the previous day, LINK should be bought from the bottoms and the cryptocurrency should not be sold:
“Here we go, there has been a 20% jump since last night. Buy the bottoms, not sell them. Sell on resistors. We approached $ 16, the first resistance zone. ”
Is it Falling or Rising?
Veteran analyst Denys Serhiichuk stated that LINK experienced a 15% price change compared to the previous week. However, Chainlink (LINK) has not yet reached the support bounce level. The sales volume is high, which means buyers are not ready to make a comeback. The altcoin is traded on a falling channel with its closest target of $ 12. The bulls could take the initiative if the $ 12 level was broken incorrectly. In another situation, sellers will continue to dominate the market.
According to CoinMarketCap data, Chainlink has been trading around $ 14.91, up 1% over the last 24 hours. As it is known, from the beginning of the year until today, Chainlink has increased by almost 772.16% against USD.
Hits the Highest Level
According to research firm Santiment, LINK saw an all-time high on daily active addresses yesterday. This occurred along with a #altcoin drop that dropped it to $ 13.49. It is claimed that the classic uptrend could begin to bear fruit if we now return to $ 16.10.