Chainlink (LINK) seems to be demonstrating a strong performance in the recent trading sessions. The value of the LINK has continued rising for the past few days, filling the bulls with a lot of excitement.
With every passing day, the confidence and the excitement of the investors are rising and they are determined to keep the rally going. Due to the recent rallies, the trading price of LINK has performed well
The value of LINK has continued moving in the positive direction despite the negative movement of the overall cryptocurrency market.
Past 4-day Performance of LINK
The past 4-days have proven to be very promising for the entire Chainlink community. Investors are filled with joy to see that the trading value of LINK has surged for four consecutive days.
The rally began on Thursday and has continued even on Sunday. This is a great demonstration from the bulls that they are determined to run a strong rally and will not be taken down by the bears.
The constant surge in the trading price of LINK has managed to push it to a 12-day high. On Saturday, the trading price of LINK was at a low of $6.37.
However, the next day, the trading price of LINK had risen to a high of $6.84. The price of LINK hit $6.84 during Sunday’s trading session.
It was on November 12, when the trading price of LINK rose to a high of $7.00. As the price of LINK has risen to $6.84, it has a strong chance of regaining the November 12 high.
The Bulls are Aiming for Higher
The report shows that the investors are aiming to push LINK’s price much higher than the $7.00 barrier. However, the first challenge for the bulls would be at the $7.00 mark.
The bears may exert a very strong selling pressure to pull LINK’s trading price. However, there is a high possibility that the bulls may continue pushing with strong buying sentiments.
Their strong buying momentum may continue growing fiercer against the bears causing them to leave the competition at $7.00.
With the bears out of the way, LINK’s price will move above the resistance level and go on to hitting the $7.15 level.
RSI is supporting the Bulls at 50
Due to the recent bullish momentum, even the relative strength index for LINK has started to move in the bullish territory. It is currently standing at the mid-level of 50.00 but it has risen from a bearish zone.
This means that RSI is also supporting the bulls, allowing them to push higher and hit a higher trading level. If the bulls keep taking inspiration from the technical indicators, LINK’s price will rise significantly.