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Chainlink – Assessing the probability of LINK rallying to $25
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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Bitcoin faced some short-term resistance around the $49.4k-level, an area BTC has faced sell pressure at multiple times in the month of December. The recent spike for BTC from $45.5k’s lows set off a run for Chainlink as well.
Chainlink had climbed from $18.16 to $20.57, at press time. This area presented a hurdle to LINK and the strength of LINK’s bulls was put to the test once more.
Source: LINK/USDT on TradingView
On the 1-hour chart, the break of the descending trendline (white) and its subsequent retest met a brick wall at the $20-$20.85 supply area (red). The rejection saw LINK fall to $18.15 to test for
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