$ 14,50 Resistance: What Happens If Chainlink Breaks Sideways Movement?
- Chainlink developed below average in 2020
- Is the Bitcoin bull run now spurring the chainlink cryptocurrency?
In retrospect, one can very well say it was the year of Bitcoin. While the Bitcoin price was around 4.000 US dollars in March, it was over 28.500 US dollars by the end of the year. This also gave other crypto currencies a tailwind - for example ethers. The cryptocurrency was around 100 US dollars at the beginning of the year and broke the 700 US dollar mark at the end of December. Even if Ether is still a long way from its all-time high (over 1.400 US dollars), the trend is clearly in one direction - and that is steeply upwards.
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Resistance seems stronger than expected after the correction
Chainlink, on the other hand, has underperformed. This is mainly due to the fact that the resistance at US $ 14,50 is stronger than expected: On November 24th it was possible to climb above US $ 16 for a short time, but the correction followed immediately - it has been since then Chainlink in a sideways movement. Not even the bull run of Bitcoin has provided a tailwind here.
EToro customers will also know that the Bitcoin bull run has given other crypto currencies, so-called Altcoins, an enormous boost - only Chainlink somehow fell by the wayside.
If the Chainlink price breaks the resistance of 14,50 US dollars, a bull run could follow. The all-time high was set on August 16, 2020 - at that time the Chainlink price was 19,83 US dollars. The Bitcoin-News.One forecast is: If Chainlink breaks through the resistance, a new all-time high is within reach - but of course there is also the risk of a further correction. If the Chainlink price remains below 14,50 US dollars, the cryptocurrency will continue to move sideways - an upward or downward breakout is therefore unlikely.