Analyst: After A 50% Retrace Against Bitcoin, Chainlink Is “Ready” To Soar

Analyst: After A 50% Retrace Against Bitcoin, Chainlink Is “Ready” To Soar


All the way up until around mid-2020, Chainlink was the hottest crypto token around. But once Bitcoin broke above $10,000 months ago, the altcoin’s uptrend against the top cryptocurrency was broken.

Following a full 50% retrace of the rally against BTC, Chainlink is now “ready to continue,” according to one crypto analyst. Here’s what that could mean for both cryptocurrencies in the days and weeks ahead.

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Chainlink is up nearly 15% intraday today already, with hours left to go before the daily close. The move sent the altcoin to the highest point in USD value since its all-time high was set earlier this year.

Chainlink spent the last two years running as the crypto market’s top performer. But as soon as Bitcoin had its major breakout, the decentralized oracle token began to sink and retrace its epic rally.

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