There have been tons of developments going around in ChainLink's blockchain in the next couple of months. There are a lot of partnerships being talked about LINK and thus, each one of them has a great perspective especially in the DeFi market. LINK is also hitting a new all-time high, not just this coin but most altcoins are following the footsteps of Bitcoin. This year has been very bullish for cryptocurrencies and mostly are exhibiting the same path with Bitcoin.
Chainlink has been creating its noise and recently Deutsche Telekom AG, Europe's biggest telco has been silently staking in LINK. This is the storage of the oracle which mainly focuses on shifting into decentralize and eliminating whatever centralize sources. It just a matter of time that multi-billion dollars are shifting into the DeFi Market.
Some companies such as Citigroup, Alibaba Cloud, We Trade, are looking into diversifying their investment in the digital crypto world. This is when Hyperledger Blockchain Project officially announces that they have grown exponentially with 260 members and these giant companies are one of which.
The parabolic trend for Chainlink
The trend is absolutely your friend. The chart shows a positive impact for LINK since the beginning of the year and thus, it continues to believe that it will still skyrocket in the next couple of months. The day candles have been in the top line of Bollinger band and show no signs of weakness. Meanwhile, we can observe that their minimal retracement in hourly candles but that does not stop link again from creating another all-new high.
RSI, on the other hand, has been constantly playing around 50 and above with a very minimal consolidation. The Link has been on a solid uptrend since the beginning of 2021.
Bitcoin price on Chainlink
As Elon Musk hype Bitcoin's price no doubt that other altcoins are printing the same pattern that Bitcoin does. On the other hand in pairs for BTC such as LINK/BTC if Bitcoin fluctuates then it is the best opportunity for an entry to Chainlink. The acting resistance for Bitcoin is within the ground of $48,000. There could be a minor pullback, and some inflows of exchanges are possible to pass through with some other altcoins in the market.