Following Bitcoin’s new record of $ 34,000, other altcoins continue to get their share from the rally. However, Chainlink, unable to keep track of the leading asset, gets its share from the rise with small accelerations.
Looking at the graphics, it is seen that the presence of LINK has caught a fluctuating movement. Although he has tested the $ 12,449 band multiple times, which is the strong resistance level for LINK, he struggled to cross the limits and we see that he is stuck above the $ 11.80 band with resistance.
The bounce request brought by this rise in Bitcoin and other altcoins also applies to Chainlink. So for a while it will test the price to overcome the resistance level. With its strong market value, LINK can also offer investors the opportunity to profit in the long term.
A closer look at the details on the chart shows us more clearly that the recent mobility centers are pushing the resistance level. If the upward acceleration movement exceeds the equilibrium point, it can also trigger the increase by attracting investors. However, it should not be forgotten that these accelerations, with the effect of the fluctuation, may cause decreases that may harm investors in the short term.
Finally, although the record pushing of Bitcoin continues, BTC’s serious stance on altcoins also means a risk for LINK. The negative momentum in the market of the leading asset can also bring a downward trend for LINK.
While the value of LINK is traded at $ 12.63 at the time of writing, the market value is seen as approximately $ 5.07 billion.