Bitcoin
BTC$61 250.62

-2.84%

Ethereum
ETH$4 042.30

-2.55%

Binance Coin
BNB$482.49

0.74%

Cardano
ADA$2.16

-0.54%

Tether
USDT$1.000245

0.03%

Solana
SOL$204.24

0.80%

Chainlink Just Made the New All-Time High


While the larger part of cryptocurrency market is in turmoil - as of the time of writing the gainers/losers ratio stands at 45% to 55%, which represents a slight improvement after witnessing the sea of red over the past couple of weeks - there are several cryptocurrencies that continue putting double-digit gains, one of them being Chainlink (LINK).

While the last four weeks have been devastating for most cryptocurrencies, including Bitcoin that has slid from the level above $10,000 to the supposed bottom at $8,700, LINK has been putting up gains like there’s no tomorrow. In a span of 30 days, the 11th cryptocurrency increased in value by 73%, having outperformed the dominant Bitcoin and Ethereum by miles.

LINK/BTC/ETH performance comparison chart

The same applies to the past week, during which Chainlink got buffed by 36%, while the top cryptocurrencies remained on the negative side. As of the time of writing, the price of LINK rose by 10% in the last 24 hours and has actually broken the all-time time at $4.85, and is now moving is full steam towards the new peak at $5. The reasons behind such a significant daily pump on the back of the falling market are yet unclear, but the fact remains that we might be looking at a birth of a new crypto superstar of 2020, though LINK has probably already earned this status since it had already showcased the 1000%+ gains in the last 12 months.

LINK maintains the uptrend


Given that the current price action of Chainlink is quite intense let’s begin the analysis by checking out an hourly chart. Here we can see that LINK continues to move in a picture-perfect uptrend without giving even the slightest hint at the underlying shifts in the market. The price has indeed got dragged below both 50-period EMA and 200-period EMA for a short duration of time but found the strength to make a swift recovery and disallow the moving averages to form a death cross on that time frame.

1-hour LINK/USDT chart

In fact, the resurgence of Chainlink was so profound that the price has not only began making higher lows and higher highs within the latest minor uptrend, but its last retracement, which occurred prior to the recent 10% rise, has made the lower high in the structure of a previous price swing, which saw the coin bottoming out at $3.32.

By the way, this price bottom has turned out to be a lower high of a long-standing uptrend, which has been lingering since the beginning of January, which once again proves that Chainlink is currently a picture of health among the overwhelming majority of cryptocurrencies. 

1-day LINK/USDT chart

Moving on to the daily time frame, where traders can reassure themselves of the perfectness of the coin’s upward movement. Most notably, how it has bounced off the 50EMA and went on to make a new higher high. 

Right now, LINK is soaring to the upper channel line that would mark the emergence of a new all-time high and higher high that could probably get extended to $5.13 or even higher, given that Stochastic hasn’t even entered the overbought area. All in all, if you are looking for a top cryptocurrency to enter a long position, Chainlink would constitute one of the finest choices in that regard.

Author: Alex Paulson for Crypto-Rating.com

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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 66% 76 $61 250.62 -2.84% -0.77% $1 154 674 094 562 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 70.8% 57 $4 042.30 -2.55% 5.39% $477 150 448 535 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 69.2% 60 $482.49 0.74% 2.70% $80 480 315 639 BNB 7 days price change
4 Cardano (ADA) ADA Cardano predictions 91.2% 12 $2.16 -0.54% -2.20% $71 185 024 084 ADA 7 days price change
5 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000245 0.03% 0.09% $69 591 162 791 USDT 7 days price change
6 Solana (SOL) SOL Solana predictions 70.8% 55 $204.24 0.80% 29.17% $61 440 079 262 SOL 7 days price change
7 XRP (XRP) XRP XRP predictions 72.8% 51 $1.096102 -0.97% -3.88% $51 457 996 304 XRP 7 days price change
8 Polkadot (DOT) DOT Polkadot predictions 60% 79 $44.55 -0.99% 2.11% $43 999 075 422 DOT 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 69.2% 56 $0.246907 0.64% 4.09% $32 542 542 435 DOGE 7 days price change
10 USD Coin (USDC) USDC USD Coin predictions 92.4% 1 $1.000313 0.06% 0.09% $32 442 834 043 USDC 7 days price change
11 Terra (LUNA) LUNA Terra predictions 69.6% 65 $43.44 5.78% 17.86% $17 443 010 900 LUNA 7 days price change
12 UniSwap (UNI) UNI UniSwap predictions 74% 47 $25.79 -2.88% -0.74% $15 775 566 720 UNI 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 67.6% 65 $66.57 4.10% 17.36% $14 663 644 845 AVAX 7 days price change
14 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 61.6% 75 $61 265.73 -2.87% -0.84% $13 545 425 709 WBTC 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 72.8% 50 $29.07 -0.32% 7.40% $13 401 075 815 LINK 7 days price change

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