Chainlink Resumes an Uptrend but Is Unable to Break the $8.00 High

Chainlink (LINK) is trading in the uptrend zone as the price is above the moving average lines. Yesterday, the altcoin faced rejection as the market reached the overbought zone at $8.00.

Timeline of Chainlink

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto's own research on the subject Chainlink [LINK] was on a bad downtrend until a week ago. However, the bullishness of the wider crypto-market had a significant impact on LINK's price charts.

ChainLink price analysis for September 10, 2022, reveals the market following a complete bullish movement, obtaining significant positive momentum, signifying a gain of positivity for the LINK market. The price of ChainLink has remained negative over the past few hours.

There is no getting around that the cryptocurrency market is crowded with thousands of different coins, making it difficult for any investor to predict the winners. Making the proper decisions requires thoroughly investigating the fundamentals. Speaking of initiatives that can change your luck, some well-known ones include Flasko, Monero (XMR), and Chainlink (LINK).

The latest Chainlink price analysis shows a massive bullish trend after the bulls reclaimed above the $7.00 level. Resistance for the coin is present at $7.97, However, a break above this level is expected to push the coin towards the $8 levels and $8.50 levels in the near term.

Chainlink (LINK), created by Sergey Nazarov in 2017, was the 2018 bear market hero. However, the Link Marines have been disheartened at the price action since 2021. Today, LINK is up 4.36% at the time of writing as it rebounds from a key horizontal support. Chainlink, according to DefiLlama, secures over $13.

After a month-long struggle, today the global crypto market has regained $1 trillion with an increase of 4.62% and is positioned at $1.02 trillion. This surge is led by Bitcoin, the world's first cryptocurrency, which has reclaimed a $20,000 area.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Chainlink [LINK] has not been a strong performer in the markets in recent months.

ChainLink price analysis for September 8, 2022, reveals the market following a complete bullish movement, obtaining significant positive momentum, signifying a gain of positivity for the LINK market. The price of ChainLink has remained negative over the past few hours.

Euler Finance is adding to the list of DeFi protocols getting ready for the world's largest smart contracts network's switch from proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS) consensus, by integrating the tested and highly secure Chainlink Price Feeds on the Ethereum mainnet.

The latest Chainlink price analysis suggests a bearish trend for today and supports sellers as the price has undergone a considerable decrease since morning. Although the bears were in the winning position, a downtrend has been following the price since the start of this week.