Chainlink (LINK) Invalidates The Formation of a Death Crossover.
Chainlink (LINK) Invalidates The Formation of a Death Crossover.
This week, Chainlink experienced a notable upswing, appreciating by over 20.2%, which positioned it as the fifth-highest gainer of the week, outpacing numerous other cryptocurrencies. With a market capitalization of $9.61 billion, it holds the 15th rank in the overall crypto market standings.
The technical analysis of the daily chart reveals that the LINK cryptocurrency has broken out from an ascending triangle pattern, effectively negating the potential for a death cross as indicated by the 50-day and 200-day Exponential Moving Averages (EMAs).
Having crossed above the EMAs, Chainlink demonstrates a transition to a bullish trend, setting its sights on reaching and potentially surpassing its yearly high points.
This week, Chainlink experienced a notable upswing, appreciating by over 20.2%, which positioned it as the fifth-highest gainer of the week, outpacing numerous other cryptocurrencies. With a market capitalization of $9.61 billion, it holds the 15th rank in the overall crypto market standings.
The technical analysis of the daily chart reveals that the LINK cryptocurrency has broken out from an ascending triangle pattern, effectively negating the potential for a death cross as indicated by the 50-day and 200-day Exponential Moving Averages (EMAs).
Having crossed above the EMAs, Chainlink demonstrates a transition to a bullish trend, setting its sights on reaching and potentially surpassing its yearly high points.