Chainlink is the best performing crypto asset of the top ten cryptocurrencies by market cap in 2020, and the years prior since it first came into existence. And although the peak in 2020 could very well be in for now, and a massive rejection just occurred at a pivotal mathematical level, a bullish chart pattern forming would have a target of roughly $32 per LINK if it breaks to the upside.
LINKUSD Rejected At 0.618 Fibonacci Retracement Level, Triangle Forms
After Chainlink charged headfirst into $20, the asset’s current peak, it’s been reeling since. Bitcoin set a new higher high for 2020, but the once-unstoppable cryptocurrency <span class="wpg-tooltip-term-title">Altcoin</span></h3><div class="wpg-tooltip-content">Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.<p class="wpg-read-more"><a href="https://www.newsbtc.com/dictionary/altcoin/">» Read more</a><p></div>”>altcoin Chainlink has been much weaker by comparison.
Related Reading | Crypto Trader Offers Roadmap To Chainlink Buckling Against Bitcoin
A nearly 60% plunge from $20 to just $8 was bought up fiercely from crypto investors hoping for a second wind or for a long-term hold. Those that did so, are still well in profit after LINKUSD surged from $8 to $13 at the peak.
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