Is Chainlink Ready To Break Its All Time High at $52?

The post Is Chainlink Ready To Break Its All Time High at $52? appeared first on Coinpedia Fintech News

Chainlink seems to be getting ready to break its current all time high soon. The investors have been waiting for over 3 years for LINK to break past $52. Even though the trading volume is low, market intelligence platform Santiment thinks it is time for the token to take a jump and create new history. Let’s analyse the market and explore what is going on and what we should be expecting from it.

Technical Metrics

Let’s start with the current price. At the time of writing, Chainlink is trading at $25.50 which is almost 50% gap from its current ATH at $52. The daily chart shows that there is no moving average nearby to support the price.The nearest MA is 20 that lies around $19.32. However, we might be able to see a golden cross over soon as MA 100 is ready to cross over MA 200. This gives us an idea that the strength is building up.

Source : Coinglass

RSI is at 74.24, so the asset is still below the overbought zone and has space for growth. This momentum is supported by the Average directional Index which is at 52.83. The histogram of MACD is displaying a remarkable buildup. Sometimes the bulls are getting tired but keeping the momentum. 

Market Sentiment

According to the market intelligence platform Santiment, the market has low sentiment towards Chainlink as of now. This can be verified looking at the volume. The daily trading volume is down by 10.98% in the last 24 hours. Despite this the price surged by 8.47%.