Chainlink (LINK) Appears Intraday Bullish as It Trades Above $8
Chainlink extends towards benefitting the developers to have access to the updated continuously on-chain price of Gold, which is now live on the Mainnet. One of the many and most demanded price oracles that can now be used to expand DeFi beyond just the cryptocurrencies.
LINK recently, in the ongoing month, had hit an All-Time High above $8.5 after all these of being listed as an altcoin in the global crypto market. LINK is encircled by much such news of comparisons with XRP for greater returns, which appears impossible until XRP breakouts with a positive crossover.
Moreover, Chainlink, as a smart contract-based platform, has been luring strategic collaborations for making the blockchain worthy of these investments and returns for the investors. Chainlink has never been recognized until it initiated these partnerships and integrations recently that has gained enough impetus on the price front as well.
Chainlink Price Analysis
With a massive and notable altcoin market pump, Chainlink has gained enough impetus to hit an All-Time High above $8.5 after trading laterally for around three years. The price trend of LINK/USD is seen hitting around the 20-day upper BB as they appear gradually widening with constant and steady support from 50-day and 200-day daily MA at $7.12 and $5.64, respectively.
Irrespective of Bitcoin and the price action at present, Chainlink is not failing to gain returns like the major altcoins of the market viz., Ethereum, and XRP. The technicals laid confirms the bullish price action in the intraday as the coin trades at $8.02. The MACD of LINK reflects bullish crossover on the 3-hourly chart, and the RSI is seen inclined towards the overbought region at 60.85 due to increased demand.