Is Chainlink Ready to Break All-Time High at $52?
It looks like Chainlink is getting ready to break its current all-time high soon. Investors have been waiting for LINK to break above $52 for over 3 years. Despite the low trading volume, market intelligence platform Santiment thinks it's time for the token to leapfrog and create a new story. Let's examine the market and examine what is happening and what to expect from it.
Technical parameters
Let's start with the current price. At the time of writing, Chainlink is trading at $25.50, a nearly 50% difference from its current ATH of $52. The daily chart shows that there is no moving average nearby to support the price. The nearest MA is 20 which is around $19.32. However, we may soon see a golden cross as MA 100 prepares to cross over MA 200.
RSI is at 74.24, so the asset is still below the overbought zone and has room to grow. This momentum is supported by an average direction indicator of 52.83. The MACD histogram is showing an impressive build-up. Sometimes the bulls are getting tired but they keep the pace.
market sentiment
According to market intelligence platform Santiment, the market is currently bearish on Chainlink. This can be confirmed by looking at the sound. Daily trading volume has decreased by 10.98% in the last 24 hours. Despite this, the price increased by 8.47 percent.
Chainlink has been working with a number of financial institutions including major banks and capital market institutions such as SWIFT and Euroclear.
On December 3rd, X's official Chainlink account shared a list of the companies and financial institutions they work with. They are helping companies develop blockchain applications and tokenized assets.
What is expected?
Chainlink is not some random crypto going to the pump and dump level. They are pioneers in the field of blockchain. There is no force in the world that can stop LINK from growing as blockchain and RWA adoption continues to grow globally.
Its strength is building and it is also reflecting on the charts. The time to create a new ATH is not too far. He is just waiting for the right time.
