Price forecast: Is Chainlink now reaching a new annual high?
In this article you will learn:
- Why a bullish trend continuation of Chainlink (LINK) seems possible
- Which support tokens must not be abandoned
- Why Chainlink is likely to continue to benefit from Donald Trump's crypto strategy
The price of Chainlink (LINK) was one of the strongest altcoins among the 100 largest cryptocurrencies in August, with a price increase of 50 percent. The data oracle temporarily reached a new annual high of $27.87. Over the past ten trading days, the LINK price consolidated southward along with Ethereum (ETH) and broke through the EMA20 moving average at the beginning of the month. The data feed provider's price is currently trading at $23.23, a key horizontal support area. If this support zone moves southward, investors should pay attention to the following chart levels in the short and medium term.
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