pjosh1

Why am I bullish on Chainlink?

Long
KRAKEN:ETHUSD   Ethereum / U.S. Dollar
A plain and simple comparison to an early chart of ETHUSD price movements around March - April 2017 can indicate that a similar path could be followed by LINKUSD and I would not rule out potential for parabolic moves higher in the near future.

Such path followed by ETHUSD which surpassed the given Fib Extension level of 4.236 would give a potential target of ~90 USD for Chainlink which is still in early stages of adoption having only been founded in 2017, nonetheless having already forged a partnership with Google back in 2019.

Levels to keep an eye on the the coming weeks would be the $38.6 level and the psychological $50 mark.

Both technologies are fairly new and disruptive, based around a self-executing contract also known as a smart contract - having the potential to bring about transparency and trust to virtual business agreements.

To put things into perspective within the crypto space:

- Bitcoin has seen a move higher of 391% in the past year,
- Ethereum at 580%,
- Chainlink quietly making gains of 671%.

Chainlink has moved to an ATH at $35 over the weekend after a move higher from the $25 handle.

Trade with caution, this is not financial advice - all views expressed are my own.

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