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October 5, 2022
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Chainlink reaches new ATH above $ 31

There are already more than 130% increase in 2021 alone

After consolidating above $ 20 over an extended period of time, Chainlink finally managed to break through the $ 30 price level, setting another ATH in 2021. In fact, in 2021 alone, Chainlink rose by about 172 %, with cumulative returns of 132%, so far.

In the last six hours alone, LINK has climbed more than 8% in price lists.

Source: LINK / USD on TradingView

LINK gained significant momentum for the first time in mid-2020, with the crypto asset becoming one of the leading cryptos of the altcoin season soon after.

Chainlink breached a huge bullish pattern before the $ 30 break

Interestingly, the writing was already on the wall, since Chainlink’s price has only recently successfully breached an upward channel in the price lists. In fact, the resistance just above $ 26 was tested four times before the eventual rise to $ 30, with the pattern briefly broken in the previous instance as well.

At the time of writing, market indicators were optimistic for LINK. However, a possible correction can also occur, pulling the encryption value for support by $ 24.

Peak development activity for LINK

One of the main advantages of supporting Chainlink’s journey is the consistent development of a technological perspective. Just a few days ago, Kraken integrated a Chainlink node to bring spot price data to DeFi. Chainlink’s price reference data is one of the most widely used decentralized oracle solutions in the DeFi space, and remains reliable for the fact that its activity has also increased by 60% since the beginning of the year.

Chainlink is still in price discovery mode and this helps the crypto to achieve consistent bullish tops in the current market. In addition, LINK’s daily active addresses also set a recent record, although a divergence has also been identified in the chart. The growth of the network has also risen to an ATH level recently.

Chainlink reaches new ATH above $ 31 22

Source: Santiment

LINK’s price increases were also supported by a number of other metrics. The circulation level of Chainlink’s token, for example, is giving rise signals for the 13th consecutive month, according to Santiment.

Chainlink reaches new ATH above $ 31 23

Source: Santiment

Trading at such a high range, a section of market investors will always be willing to sell to limit some profits. Consequently, the feeling of hodling will play a key role in the future for Chainlink.

Source: AMBCrypto

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