Quick take:
Back in mid-July, crypto investors and traders responded to a poll asking them whether ChainLink (LINK) would break $10 before Bitcoin broke through $10,000. When the poll concluded, 67% of the respondents believed that LINK would be the first to moon before Bitcoin as seen in the tweet below.
Furthermore, and a few days after the tweet, ChainLink (LINK) hit its previous all-time high of $8.92 and looked set to embark on a correction that could have seen it fall to as low as $5 – another previous all-time high value.
However, ChainLink’s bullish momentum was experiencing a revival after LINK marines united in a bid to liquidate the authors of the malicious report that called for a $0.07 value of ChainLink. Since the campaign to pump LINK begun, the digital asset has rebounded from $6.50 levels to its new all-time high of $9.98 – Binance rate.
This value is 2 cents shy of the $10 value of LINK predicted by participants of the poll presented by Timothy Peterson of Cane Island Alternative Advisors.
It is with this brief background of ChainLink’s recent price movements that LINK investors – also known as LINK marines – believe that $10 will be broken soon. Furthermore, many believe that the digital asset will continue on its upward trajectory as seen through the following sample of LINK related Tweets.
A quick look at the daily LINK/USDT chart reveals that the digital asset has attempted to break the $10 ceiling a second time since the all-time high value was set yesterday, August 5th.
Taking a second look at the daily LINK/USDT chart, the following can be observed.
Summing it up, ChainLink (LINK) has bounced from what looked like a certain pullback, to post a new all-time high of $9.98. This push towards $10 has been catalyzed by LINK marines banding together in a bid to liquidate the authors of the report that called for a $0.07 LINK.
With a few cents separating LINK from its $10 ceiling, the daily chart provides more evidence that this level could be broken in the hours or days ahead.
As with all analyses of ChainLink (LINK), traders and investors are advised to use adequate stop losses as well as low leverage on the various derivatives platforms.