Chainlink Could Dive Towards $8.00 Before Extending Uptrend

Chainlink has been one of the few altcoins to see some notable momentum throughout the past few days, as most altcoins have been struggling to rally despite the overt bullishness seen by Bitcoin. The crypto remains well below its 2020 highs of $20.00 that were set a few months ago, but it could be just a few weeks away from revisiting these highs as bulls begin laying the groundwork for a strong move higher. That being said, it may first have to bear witness to some weakness before it can…

‘Where are the LINK Marines?’ Chainlink beats Bitcoin with 610% YTD returns

Bitcoin (BTC) may be down less from its all-time highs than any other cryptocurrency, but 2020 has so far been the year of Chainlink (LINK). In the latest edition of its Weekly Insights report on Oct. 26, The TIE noted that Chainlink has outperformed every other cryptocurrency with year-to-date returns of over 600%. Bitcoin down least vs. all-time highs Comparing altcoin performance, the report also highlighted Cardano (ADA) with 224% returns, Ether (ETH) on 217% and Monero (XMR) on 182%. The numbers provide a timely counterpoint for cryptocurrency spectators as…

Chainlink (LINK) Potential HS Pattern Could Trigger Sharp Decline

Chainlink (LINK) seems to be forming a short-term top near $12.98. A head and shoulders pattern is likely forming, which could trigger a sharp decline below the $11.50 support. Chainlink token price started a fresh decline after it failed to clear the $13.00 resistance against the US dollar. The price is holding the $11.50 support level and the 100 simple moving average (4-hours). There is a crucial contracting triangle forming with resistance near $12.00 on the 4-hours chart of the LINK/USD pair (data source from Kraken). A head and shoulders…

Chainlink Rejected At Key Mathematical Level, But Geometry Points To Upside

Chainlink is the best performing crypto asset of the top ten cryptocurrencies by market cap in 2020, and the years prior since it first came into existence. And although the peak in 2020 could very well be in for now, and a massive rejection just occurred at a pivotal mathematical level, a bullish chart pattern forming would have a target of roughly $32 per LINK if it breaks to the upside. LINKUSD Rejected At 0.618 Fibonacci Retracement Level, Triangle Forms After Chainlink charged headfirst into $20, the asset’s current peak,…

Chainlink Rallies Higher as Analysts Expect Further Mid-Term Upside

Chainlink has seen one of the strongest rebounds from its recent lows across the aggregated altcoin market, with its price rocketing higher as investors begin rotating capital into “risk-on” assets as Bitcoin and Ethereum show signs of strength. Its rebound is showing few signs of slowing down, and a move back up to its all-time highs could be on the table if the wider crypto market continues showing signs of strength. One analyst is now pointing towards a diagonal resistance level that has been formed over the past few days,…

Winning The Crypto Lottery Just Got Fairer Thanks to Chainlink

Key Takeaways Chainlink has launched a new service for Ethereum called Verifiable Random Function (VRF). VRF can be used by Ethereum developers in games and NFTs that rely on decentralized randomness. PoolTogether, a lottery prize game on Ethereum is using VRF to choose random winners. Share this article Chainlink is entering Ethereum’s gaming ecosystem. It has launched a service called Verifiable Random Function (VRF) for Ethereum developers to make random outcomes in games more decentralized. Chainlink Adds Another Dose of Decentralization Ethereum developers can use VRF to make random outcomes…

This “Green Wave” is About to Lift Chainlink Significantly Higher, Claims Analyst

Bitcoin’s recent upsurge is finally proving to be beneficial for altcoins, as many have been able to post notable gains throughout the past day, including Chainlink. LINK has been one of the best performing major altcoins over the past 48 hours, as it has put some serious distance between its current price and its recent lows. This strength isn’t too surprising, as the cryptocurrency tends to outperform the market during uptrends. It does appear to be consolidating at the moment, however, as bulls have been struggling to propel it past…

Chainlink brings Verifiable Randomness to Ethereum mainnet, keeps other chains in sight

Chainlink’s verifiable randomness function, or VRF, has made its way to the Ethereum (ETH) main net. VRF will provide a decentralized source of randomness for the project’s decentralized ecosystem.  A trusted source of randomness is essential for many applications, such as those in the gambling and gaming industries. Chainlink’s co-founder Sergey Nazarov told Cointelegraph that many blockchains  beyond Ethereum, such as the gaming-focused Matic Network, are interested in deploying the project’s VRF: “I know that we have anywhere between 10 and 20 users announced as already using it from the time it…

Aave, Ren, Chainlink Surge 10%

Earlier this week, all eyes were on Bitcoin, not DeFi. The leading cryptocurrency shot a handful of percent higher while altcoins actually began to move lower against the dollar, sometimes by 5-10%. Some DeFi coins actually dropped 15% on the day that Bitcoin shot 2-3%. This trend did not persist, though. Altcoins have begun to recover against the leading cryptocurrency over the past day, with some actually managing to outpace the previously-dominant Bitcoin. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom DeFi Coins Bump Higher Amid…

Chainlink (LINK) Poised to Plunge Against Bitcoin as Technical Setup Weakens

It’s been a tough past few days for altcoins, Chainlink (LINK) included. The price of the leading altcoin, based on Ethereum, has dropped 3.1% in the past 24 hours alone per CoinGecko market data. To put that into context, Bitcoin has rallied in excess of 4% over that same time frame. Stepping back, LINK’s price action is even weirder. CoinGecko data indicates that the coin has dropped around 10% in the past week alone. Over that same time frame, BTC gained in excess of 7%. Related Reading: Here’s Why Ethereum’s…