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Is Chainlink Ready to Break Its All-Time High of $52?
Chainlink seems to be gearing up to break its current all-time high in the near term. Investors have been waiting for more than 3 years for LINK to break above $52. Despite the low trading volume, market intelligence platform Santiment thinks it's time for the token to speed up and make new history. Let's analyze the market and discover what's going on and what we should expect from it. Technical Data Start at the current price. At the time of writing, Chainlink is trading at $25.50, nearly 50% lower than the current ATH of $52. The daily chart shows no nearby moving average to support the price. The closest MA is 20 around $19.32. However, we may soon see a golden cross as the MA 100 is about to cross with the MA 200. This gives us the idea that the strength is increasing.
RSI is at 74.24, so the asset is still below the overbought zone and has room to grow. This momentum is supported by the average directional index at 52.83. The MACD histogram chart is showing significant accumulation. Sometimes the buying side is tired but still maintains momentum. Market Psychology According to the Santiment market information platform, the market currently has a low sentiment towards Chainlink. This can be confirmed by looking at the volume. The daily trading volume has decreased by 10.98% in the past 24 hours. However, the price has increased by 8.47%.
Chain link has partnered with many financial institutions such as SWIFT and Euroclear, including major banks and capital market organizations. On December 3, Chainlink's official X account shared a list of companies and financial institutions they are collaborating with. They are helping companies develop blockchain applications and encrypted assets.
What can you expect? Chainlink is not a random cryptocurrency that goes into the pump-and-discharge phase. They are pioneers in the blockchain field. With the increasing adoption of blockchain and RWA worldwide, there is no force in the world that can stop LINK from growing in power and it is also reflecting on the chart. The time to create a new ATH is not far away. Just waiting for the right time.