Chainlink continues to rise, while analysts suspect a return to all-time highs
Chainlink was one of the most bullish cryptocurrencies within the markets last year, as LINK was in spite of the aggregate market, which was exposed to strong experienced immense dynamism.
This momentum shows no signs of slowing down, and analysts are now finding that they expect the cryptocurrency to return to its previously all-time highs soon.
This analyst's optimism comes as the cryptocurrency shows signs of another massive parabolic uptrend beginning. At the time of writing, Chainlink is trading at its current rate of $ 3 33 , marking a remarkable rise from daily lows of $ 2, 85.
The rise in LINK marks an extension of the massive momentum that started on January 3 when the cryptocurrency rose from a low of 1, 85 $ started. Chainlink now has the previous parabolic cycle highs of just over 3, 00 dollars left in November 2019 left behind and there seems to be a move back to the all-time highs of well over 4, 00 to target dollars set at the end of June last year.
The analysts agree: LINK is for a move to 4, 00 $ ready
Satoshi Flipper, a prominent crypto trader, recently tweeted that Chainlink broke above the top of a bull flag that he was trapped in, which led him to believe that a recovery to $ 4. 00 is imminent.
“This will be a cute 20% move to $ 4. ”
That's going to be a sweet 20% move to $ 4 $ LINK pic.twitter.com/z4bUmnuUtK
– Satoshi Flipper (@SatoshiFlipper) February 7, 2020
Since LINK has a history of parabolic movements, it seems very likely that this sustained increase will continue to expand, and its firm, independent momentum could mean that it is moving towards its previous highs regardless of how Bitcoin and the rest of the crypto markets evolve.
Proof of text: cryptoslate