Chainlink Eyes Major Bullish Breakout: May Test $8.43 Again

Chainlink recently surged after breaking through its descending resistance line near $7.619 for potentially one of the strongest trend reversals around. With a closing candle forming a demand zone offering a bullish sentiment, those that used the Fibonacci Retracement will look to invest profits precisely around the $7.4 to $8.45 points – potentially lucrative locations for cashing in. Despite these figures signaling a new stage for the token, LINK could yet slip back below $7.00 and possibly even extend to values past the marked volume levels from $6.0 to $6.2. Although viable, not all will entertain this thought, especially considering LINK’s number 1 ranking among highly developed crypto protocols within Santiment’s study.

Robert Wilson author
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