Chainlink: Mapping out the red flags in LINK's recent bull run

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Chainlink's (LINK) recent inverse head and shoulder breakout led the alt to snap through the EMA ribbons for the first time in over two months.

Timeline of Chainlink

Chainlink hits another weekly high after the updated Staking roadmap and the LINK price surged to $8.86 as we can see more today in our latest Chainlink news. Chainlink hits another weekly high after the announcement of the staking launch in the second half of 2022.

Following the release of its staking roadmap, Chainlink's LINK native token performed quite impressively. First, it released its long-awaited roadmap revealing various phases it will go through.

The LINK token hit a four-week high following Chainlink unveiling the details and the roadmap of its upcoming staking program, set to launch in the second half of 2022. Holding LINK tokens will strengthen the network's cryptographic security and allow holders to earn 5% APY.

Chainlink's staking roadmap update pushed the price of the LINK token by 12% and today, it is among the best-performing assets that we can see on the charts in our latest Chainlink news. The Chainlink team published its long-term goals, initial implementation, and Chainlink's staking roadmap that outlined the next stages for a data oracle

Chainlink LINK/USD is a decentralized blockchain platform that enables smart contracts to access real-world data, such as data feeds, APIs, and even banking systems. This is done through the usage of Oracles, which find, verify and submit the real-world information within the blockchain-based smart contracts. The LINK cryptocurrency is used as a means of paying The post Chainlink's roadmap update pushes its value up, can it retain momentum? appeared first on Invezz.

The LINK sellers' failed attempt to follow through on wedge pattern fallout triggers a rounding bottom recovery. As a result, the altcoin renters the wedge pattern indicating a bear trap.

Chainlink's native crypto LINK kicked off the week in a bullish tone, igniting hopes of a breakout. The signs of a strong upside are there but there are a few factors that may prevent it from achieving that goal.

Chainlink price analysis suggests an upwards movement to $8.20 LINK faces resistance at the $7.96 mark The closest support level lies at $7.20 The ChainLink price analysis shows that LINK has initiated a swift recovery with the bulls climbing past the $7.750 mark and attempting to break past the $8.00 mark.  The broader.

The prolonged retest phase of the falling wedge pattern indicates a lack of commitment from sellers to continue the prevailing downtrend. The buyers may take advantage of this consolidation to trigger a false pattern breakout.

Chainlink (LINK) is in a downward correction as the altcoin continues its sideways movement. On May 30, the bulls broke the 21-day moving average line, but failed to keep the price above the $8 resistance level. This will be the second rejection of the recent high.