Chainlink Blazing a Trail to All-Time High?
Cointelegraph By Benjamin Pirus's original article for cointelegraph.com reduced by 44%
Chainlink has been on fire, blazing its own trail independent from the rest of the market. Seeing the top market leaders, such as Ether and XRP, trend upward together is not out of the ordinary, especially if Bitcoin's price also rises at the same time. Daily LINK price chartPaired against Tether, Chainlink shows significant strength as it fights through a block of resistance between $2.52 and $2.75.
Just a few weeks before LINK posted its all-time price high of $4.59 in June 2019, Chainlink announced a collaboration with Google Cloud amid an overall bullish cryptocurrency market. If LINK breaks past $2.75, it faces resistance at $3.25, $3.75 and $4.59, the asset's all-time price high set on June 29, 2019. Interestingly, Chainlink's all-time high did not occur during crypto's most recent altseason in Jan.
2018, when almost every cryptocurrency other than Bitcoin rose tremendously in price over a period of weeks. In contrast to Chainlink Ether has a more difficult road ahead. At press time, Ether fights a level of resistance at $181.
The coin also needs to defeat its next closest levels of resistance at $205 and $231.Ether recently suffered a bearish moving average cross, seeing its 100-day MA cross under its 200-day MA. Those key moving averages also sit above Ether's price as resistance, between $208 and $211.Ether priced against BTCEther shows further strength when priced against Bitcoin, which may be a key factor in showing altcoin optimism.
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