Chainlink (LINK) Still Looks Good Despite Loss of Upward Momentum

Chainlink (LINK) Still Looks Good Despite Loss of Upward Momentum

Chainlink (LINK) has been one of the fastest-rallying coins over recent weeks.

The leading Ethereum-based cryptocurrency underwent a strong bounce from its $7.75 lows to a recent high just shy of $12. This meant that from the lows, Chainlink gained over 45%, making it one of the top-performing coins from the September lows.

LINK has dropped slightly from its highs. The coin now trades at $11 as of this article’s writing, just over 5% below the recent local highs.

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Analysts think that Chainlink still has upside from here despite the loss of upward momentum. Key trends showing this include strong futures trends and a negative funding rate, which suggests that shorts could be squeezed from here.

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Chainlink is set to move higher in the days ahead as futures and technical trends suggest the trend remains positive.

One crypto-asset trader recently

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