Everyone knows that when it comes to social media, ChainLink is particularly badly criticized on platforms like Reddit. It seems that the biggest problem with ChainLink is usually with the tokenomics and the token itself.
Many users have criticized ChainLink for creating a token that simply wasn’t necessary, stating that the project could have just used Ethereum. Just recently, a “report” allegedly published by Zeus Capital, an investment company, was released stating that it was exposing Chainlink’s scam.
After Zeus Capital was accused of simply distributing FUD, it doubled its ChainLink prediction that LINK co-founders are buying luxury and multi-million dollar condominiums thanks to pump-and-dump fraud.
Zeus Capital has also been scrutinized for its obsession with ChainLink and nothing else. It seems the company is only talking about the LINK price and advised its users to cut LINK about two weeks ago. Unfortunately, that short would have been catastrophic as of now as ChainLink is cycling through all levels of resistance and hitting a market cap of $ 11 billion and $ 4 billion.
ChainLink price short-term analysis
The current price for LINK is $ 11, an all-time high. LINK bulls are clearly extremely strong right now, bringing LINK to new highs almost every week.
The daily chart is strong in favor of the bulls, who will experience very little resistance to the bullish move. They have been defending the 26 daily EMA for months and will not face strong selling pressure unless they lose the support level.
Before that, bulls can also use the daily 12 EMA at $ 9.23 and $ 9 as a support level.
ChainLink’s trading volume rose significantly last month from an average of just $ 80 million in January 2020 to highs of $ 1.3 billion. When it comes to dominance, LINK has one of the most parabolic charts in the entire market.
From a dominance of 0.03% in 2017 to a high of 1% in 2020, an increase of more than 3,000% in less than three years.
ChainLink price long-term analysis
When it comes to longer periods of time, ChainLink wipes out important coins like Bitcoin and even Ethereum. The weekly chart is insanely bullish with a strong uptrend and very little resistance to the uptrend. Bulls also managed to set some levels of support on the way up which should improve LINK price in the event of a pullback.
The 12-EMA and the 26-EMA have been crossed bullishly since April 2019 and the MACD since April 2020. Bulls have failed to hold the 26-EMA only a few times, but the bears have no continuation.
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The trading volume has increased significantly in the past 5 weeks. The price of ChainLink has increased more than 700% since March 2020. The RSI is overstretched, but clearly not an important factor, as FOMO and the bullish market are still pushing LINK to new highs.
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Disclaimer of liability: The authors of this website may have invested in cryptocurrencies themselves. They are not financial advisors and only give their opinion. Anyone looking to invest in cryptocurrencies should be well informed about these high risk assets.
Trading in financial products, especially with CFDs is associated with a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Note that most private investors will lose money if they choose to trade CFDs. Any type of trading and speculation in financial products that can generate unusually high returns is also associated with an increased risk of losing money. Note that past wins are not a guarantee of positive results in the future.
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