Technical Analysis: ChainLink (LINK) Resumes Uptrend Following Recent Bitcoin Crash


ChainLink (LINK) has been one of the strongest cryptocurrencies in recent weeks and last week’s Bitcoin crash did little to change that. The altcoin’s recovery has been enough to bring LINK above its pre-crash price.

Price chart of ChainLink's recovery

Notably, the bulls have been able to break above both EMAs with continuation, something that no other cryptocurrency has been able to accomplish. The EMAs are also on the verge of a bull cross.

The only real concern for the bulls is the lack of volume, however, considering the overall state of the market, this isn’t necessarily a big issue. The bulls are now looking for healthy consolidation and the bull cross of the EMAs.

LINK is currently down 3.4% on the day to $1.93 after forming a strong daily uptrend.

More: Bitcoin (BTC) Price Recovery Hasn’t Been Convincing
Recent: Crypto Brokerage Voyager Is Launching Its Own Token

Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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