Chainlink (Up 17%) Reaches For $20 Again – Are Whales Returning?
Now that the fears of a possible SEC lawsuit against coins other than XRP seems to subside, cryptos that had lost out in the beginning of the year (Stellar and Chainlink come to mind) are on an upwards trajectory again. Chainlink seems to reach for $20 once more, a level it last touched in the summer of 2020.
The mass media attention for Bitcoin’s parabolic rise in the past few months gave way to a new breed of crypto commentators. Although Vitalik Buterin is not yet featured in most US media as a regular commentator, other developers have found a way to do some PR for their respective coins.
We're proud to announce Paxos is partnering with @chainlink to leverage its decentralized oracle network. This will boost the adoption of $PAX and $PAXG within the DeFi ecosystem. Learn more here https://t.co/5kec6vveD0— Paxos (@PaxosGlobal) January 14, 2021
Chainlink is seeing a remarkable rise this week, after falling back to a low of $12,5, a level that might have looked astonishing only a year ago, but now seems to serve as support where whale investors are picking up the coin again.
According to technical analyst Lorenzo Stro, Chainlink’s chart suggests that there is no opposition lying in it’s way before it hits $20 again, a price it last saw at the height of the DeFi hype during the summer.
Lorenzo stated that:
Chainlink bulls have bought the dip and defended the 26-EMA support level on the daily chart. The digital asset is on its way to crack $18.43 and ultimately establish a new all-time high above $20.
Time will tell if he’s correct. As always, we recommend you to do your own research.