Chainlink Explodes Higher as Bulls Shatter Key Resistance Level; What’s Next (www.blockcast.cc)

• Chainlink has been lagging behind Bitcoin and the rest of the market throughout the past few weeks
• This trend is coming to an end, however, as bulls have stepped up and propelled the cryptocurrency significantly higher today
• It still has a way to go before it sets all-time highs, but its current momentum does seem to indicate that serious upside could be imminent in the short-term
• One trader spoke about its technical outlook in a recent tweet, explaining that it was just able to break above a multi-month consolidation range that it had been caught within
• He notes that this may allow for it to see some serious upside in the days and weeks ahead

Chainlink has been lagging behind the entire crypto market throughout the past few weeks, with it largely hovering within the lower-$10.00 region while many of its counterparts rallied.

This consolidation appears to have come to a firm end today, with bulls taking full control of its price action as they send it up towards its all-time highs.

It still has room to rally before it reaches the $20.00 region, which has long proven to be a resistance zone for the cryptocurrency. A firm break above could allow it to enter price discovery mode, sending it to new highs.

Chainlink Explodes Higher Following Consolidation Phase

At the time of writing, Chainlink is trading up over 15% at its current price of $16.00. This marks a massive surge from its recent lows of $8.00 that were set in December when the entire market saw a flash crash.

From here, its price rallied until it reached the $14.00 region, which is around the time it began facing some intense resistance that slowed its growth.

The break above this level was significant and sent it flying up to its current price levels. Bulls are now trying to flip $17.00 as support.

LINK Breaks Key Trading Range as Analysts Eye Upside

One trader explained in a recent tweet that the recent breakout rally allowed Chainlink to shatter a multi-month trading range.

He notes that this could mean that a move up to its all-time highs of roughly $20.00 is imminent.

“LINK: Broke out of a long consolidation range. Retesting the P.O.B is where most traders will look to enter on a retest and/or add to positions with confirmation,” he said while pointing to the below chart.

Image Courtesy of Pentoshi. Source: BTCUSD on TradingView.

The coming few days should offer significant insights into where Chainlink and other altcoins will trend next.

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Chainlink Explodes Higher as Bulls Shatter Key Resistance Level; What’s Next (www.blockcast.cc)

• Chainlink has been lagging behind Bitcoin and the rest of the market throughout the past few weeks
• This trend is coming to an end, however, as bulls have stepped up and propelled the cryptocurrency significantly higher today
• It still has a way to go before it sets all-time highs, but its current momentum does seem to indicate that serious upside could be imminent in the short-term
• One trader spoke about its technical outlook in a recent tweet, explaining that it was just able to break above a multi-month consolidation range that it had been caught within
• He notes that this may allow for it to see some serious upside in the days and weeks ahead

Chainlink has been lagging behind the entire crypto market throughout the past few weeks, with it largely hovering within the lower-$10.00 region while many of its counterparts rallied.

This consolidation appears to have come to a firm end today, with bulls taking full control of its price action as they send it up towards its all-time highs.

It still has room to rally before it reaches the $20.00 region, which has long proven to be a resistance zone for the cryptocurrency. A firm break above could allow it to enter price discovery mode, sending it to new highs.

Chainlink Explodes Higher Following Consolidation Phase

At the time of writing, Chainlink is trading up over 15% at its current price of $16.00. This marks a massive surge from its recent lows of $8.00 that were set in December when the entire market saw a flash crash.

From here, its price rallied until it reached the $14.00 region, which is around the time it began facing some intense resistance that slowed its growth.

The break above this level was significant and sent it flying up to its current price levels. Bulls are now trying to flip $17.00 as support.

LINK Breaks Key Trading Range as Analysts Eye Upside

One trader explained in a recent tweet that the recent breakout rally allowed Chainlink to shatter a multi-month trading range.

He notes that this could mean that a move up to its all-time highs of roughly $20.00 is imminent.

“LINK: Broke out of a long consolidation range. Retesting the P.O.B is where most traders will look to enter on a retest and/or add to positions with confirmation,” he said while pointing to the below chart.

Image Courtesy of Pentoshi. Source: BTCUSD on TradingView.

The coming few days should offer significant insights into where Chainlink and other altcoins will trend next.

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Bitcoin Momentum Likely to Continue as Bulls Shatter Critical Resistance (www.blockcast.cc)

• Bitcoin has seen some massive momentum throughout the past few days, with the cryptocurrency’s price rallying to new highs over $30,000 as its uptrend turns parabolic
• Where the cryptocurrency trends in the mid-term will undoubtedly depend on whether or not bulls can maintain full control of the crypto’s upswing or if it will post a blow-off top
• Some analysts do believe that the lack of bid-side support just below BTC’s current price could result in it seeing a sharp drop if there’s a flurry of selling pressure
• One analyst still believes that he expects its momentum to continue in the near-term
• He notes that the break above $29,400 was what sparked this movement and that it will likely extend further in the coming days

Bitcoin has seen one of the wildest rallies of its history over the past few weeks, with its momentum only being rivaled by historic rallies like the one in 2017 and in years prior.

The crypto is now trading up nearly 10x from its 2020 lows of $3,800 set during the March selloff.

Its parabolic uptrend shows no signs of slowing down for the time being, and one analyst believes that it is only a matter of time before it sees further upside.

Bitcoin Explodes Past $30,000 as Uptrend Turns Parabolic

At the time of writing, Bitcoin is trading up over 12% at its current price of $33,100. This marks a massive upswing from recent lows of $26,000 set just a few days ago.

So long as buyers can maintain their control over the lower-$30,000 region, this could become a new floor for the cryptocurrency upon which it can expand off of.

Analyst: BTC Strength Shows No Signs of Slowing

One trader explained in a recent tweet that he is now watching for Bitcoin to continue this uptrend.

He notes that the break above $29,400 sparked this move higher and may continue creating tailwinds for it.

“BTC – $31k+: The momentum has been strong and breaking back above $29,400s was a key level. I’d expect the momentum to continue with Bitcoin to the upside. Now $19k-$20k Bitcoin doesn’t sound so bad – many now wish they bought more at those levels.”

Image Courtesy of Josh Rager. Source: BTCUSD on TradingView.

The coming few days should provide some serious insights into where the entire market will trend in the mid-term, as whether or not Bitcoin posts a blow-off top here will be telling as to its present strength.

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Bitcoin is on the Cusp of Seeing an Explosive Rally as Bulls Shatter $20k Resistance (www.blockcast.cc)

• Bitcoin is officially trading at the highest prices it has ever seen, with today being a monumental day for the cryptocurrency
• This historical milestone has come about following multiple attempts, and failures, at breaking above $20,000
• The eventual break above this level could now spark an epic short-squeeze that liquidates all the $20,000 limit-short orders that bears had set
• One trader is now noting that the break above this level is highly likely to be sustainable, as the resistance around $20,000 had been degrading for the past couple of days
• There is now a strong likelihood that a cascade of short-side liquidations could cause the crypto to rally significantly higher

Bitcoin and the rest of the cryptocurrency market are currently caught within the throes of an intense bull market, which comes as Bitcoin sets fresh all-time highs at over $20,000 today.

The cryptocurrency has so far climbed as high as $20,800, but there is limited resistance above the key $20,000 level, making it fairly easy for the cryptocurrency to navigate higher.

Because a cascade of short-side liquidations is also contributing to the crypto’s buy-side pressure, there’s a strong possibility that it continues running until it reaches a psychologically significant level, like $21,000.

Bitcoin Sets Fresh Highs as Uptrend Gains Momentum

Bitcoin is currently rallying parabolically, with the number going up just about every other second.

The selling pressure seen throughout the lower-$20,000 region appears to be non-existent, with this breakout rally inducing panic buying amongst bears.

At the time of writing, Bitcoin is currently trading up 6% at its current price of $20,750. This marks a massive surge from its recent lows of $17,600 set just a few days ago.

BTC Likely to Be Bolstered by Short Liquidations

One trader explained before this morning’s break above $20,000 that a firm move past this level will create a cascade of sell-side liquidations that cause the cryptocurrency’s price to rocket higher.

“Binance is desperate to save their underwater shorts. Perps starting to go in overdrive though. This is gonna be a serious battle, but if 20k breaks… The squeeze will be epic.”

Image Courtesy of Byzantine General.

We already see the impacts of this, with this latest Bitcoin push potentially marking the start of the cryptocurrency’s next parabolic uptrend.

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Chainlink Must Shatter One Key Resistance Level or Face a Plunge to $7.50 (www.blockcast.cc)

Chainlink’s price action has been closely following Ethereum’s as of late, but it is beginning to break free of this correlation and gain some independent momentum.

This comes as the wider crypto market continues its ascent, with altcoins surging as Bitcoin consolidates around $18,000.

It does appear that there is an ongoing rotation of capital away from BTC and even Ethereum and towards smaller tokens that have a higher risk and higher upside potential.

This has benefited Chainlink, with the LINK token surging towards a crucial resistance level as analysts aim to see further near-term upside.

Where it trends in the near-term will likely depend on whether or not it can break above $13.80 in the near-term and flip this into support.

One trader is noting that a break above this level is required to flip bullish on the crypto, stating that a sustained bout of trading below this level will lead him to expect further downside.

As for how far-reaching this potential decline could be, he claims that a move as low as $7.50 could be in the cards.

Of course, for this to come about, it will require a downturn across the entire market. This may not be a real possibility, given how strong Bitcoin is at the present moment.

Chainlink Shows Signs of Strength as Bulls Target Key Resistance

At the time of writing, Chainlink is trading up just under 1% at its current price of $13.70.

This is around the price at which it has been trading throughout the past day or so, with the resistance at $13.80 proving to be somewhat significant.

Breaking above this level and holding above it for an extended period of time is vital for LINK to see any significant momentum in the near-term.

Analyst: LINK Could Risk Seeing a 50% Decline if Bulls Fail to Step Up

One trader believes that Chainlink could be at risk of seeing major downside if bulls are unable to break above $13.80.

He is particularly watching for a move down towards $7.50 if the aggregated market turns lower.

“LINK: Still no breakout above this resistance zone. The S/R flip I find required for further bullishness. Otherwise I’d be looking at $10 and $7.50.”

Image Courtesy of Michaël van de Poppe. Source: LINKUSD on TradingView.

Unless Bitcoin or Ethereum plunge lower, there’s a low likelihood of Chainlink and other major altcoins seeing any intense near-term selloff.

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Chainlink is About to Shatter a Crucial Resistance Level as Analysts Eye $13+ (www.blockcast.cc)

Chainlink has been flashing signs of immense strength throughout the past few days, rebounding from its recent lows alongside Ethereum and the aggregated DeFi sector.

Most of the cryptocurrencies associated with decentralized finance have posted large gains throughout the past couple of days, primarily coming about following Yearn.finance’s immense surge from its $7,500 lows that sent it as high as $18,000.

LINK is currently breaking above a resistance level that has been holding strong throughout the past couple of months.

If flipped into support, this level could help catapult the cryptocurrency back up to its all-time highs of $20.00.

One analyst is now noting that he is watching for a short-term move to over $13.00. He points to its ability to hold strong above all of its short-term time frames to justify this.

For it to see a sustained push higher, however, it will require that Ethereum and the DeFi sector remain strong as well, as any weakness across these assets could create a headwind that drives it lower.

Chainlink Gains Momentum as Market Trends Higher

At the time of writing, Chainlink is trading up nearly 8% at its current price of $12.70. This marks a massive surge from its recent lows of $9.70 that were set earlier this week.

It is also important to note that the cryptocurrency rebounded from a selloff seen yesterday, which sent its price down to lows of $11.50.

$12.00 was previously a strong resistance level that is now becoming support. The next key level that must be shattered is $13.00, as a break above this level could send it rocketing to fresh highs.

If a break above this level comes about in the days ahead, it will likely be due to sustained strength across Bitcoin, Ethereum, and the DeFi sector.

LINK to Soon Break $13.00, Claims Respected Analyst

While sharing his thoughts on where Chainlink might trend in the near-term, one respected analyst stated that a move to over $13.00 is imminent.

To justify this sentiment, he stated that the defense of its lower time frame support levels will help boost it.

“Held support on low-time frames. Was a great place to ‘buy the dip’ for Chainlink. LINK wants $13+.”

Image Courtesy of Josh Rager. Source: LINKUSD on TradingView.

The coming few days and weeks should provide some serious insight into the aggregated altcoin market.

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