Hey friends, hope you are well, and welcome to the new update on Chainlink.
All-time high resistance broken out:
The priceline of LINK has found a good strong uptrend line support. And broke out the all-time high price and sets a new all-time high price level.
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Up-channel has been broken out:
On the daily time period char, the price action of Link formed an up-channel. There was also good support of 200 SMA at the support of the channel. Now finally the priceline has broken out the resistance of this channel.
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SMA support re-test:
Now if we take a look at Link with Bitcoin pair monthly time frame chart, then the priceline of Chainlink is testing 25 simple moving average as a support 1st time even in the history of Chainlink.
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Conclusion:
In the US dollar market, the price action of Chainlink has already crossed an all-time high but in Bitcoin market, it has moved down at the strongest support of monthly 25 SMA. Therefore in the future, a very powerful rally is expected.
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