A golden cross formed on the Chainlink (リンク) four-hour chart a week after its price crashed by almost 45 過去最高のパーセント $37.07, signaling a bullish revival for the world’s ninth-largest cryptocurrency by market capitalization.

振り返ってみると, a golden cross appears when an asset’s short-term moving average crosses above its long-term moving average. Ideally, traders treat a crossover between a 50-day MA and 200-day MA as the benchmark indicator to determine their bullish bias. その間, when an asset’s 20-period MA closes above its 50-period MA, it signals traders about an immediate buying sentiment in the market.

LINK Bullish Crossover

The LINK/USD exchange rate logged the 20-50 golden cross on Tuesday as its bids rose to an intraday high of $30.89. Measuring from its previous bottom, the pair’s move upside brought its price up by 53.24 パーセント. That followed a minor correction, but the short-term bullish bias looked intact.

チェーンリンク, リンク, LINKUSD, LINKUSDT, 暗号通貨, LINKBTC
Chainlink tests February 24 resistance level for a breakout move. ソース: TradingView.comのLINKUSD

LINK found a resistance target near $29.75, which previously capped its breakout attempts on February 24. それにもかかわらず, the cryptocurrency’s rally this time rode on a flurry of optimistic fundamentals, which may see it break above the price ceiling and target its previous ascending trendline support (in black) as an upside target.

逆に, a pullback from $29.75 would risk LINK dropping towards its 20-EMA for support, with the 50-SMA as an intermediary downside target. A further slipover could have traders open their short entries towards the previous support target near 22.69.

Oracle Upgrade, BlockFi Support

The rally in the Chainlink markets also appeared as it announced developing an off-chain reporting protocol (OCR) that intends to improve its Oracle network. Excerpts:

“All nodes communicate using a peer-to-peer network. During the communication process, a lightweight consensus algorithm is run, in which every single node reports its price observation and signs it. A single, aggregate transaction is then transmitted, saving a significant amount of gas.”

その間, more bullish tailwinds came from BlockFi, a crypto lending firm that announced support for LINK tokens. そうすることで, the firm enables LINK holders to deposit their tokens in the BlockFi pool to earn a stable 5.5 percent annual yield. The interests will be paid using the Chainlink tokens.

年に設立 2017, BlockFi already offers similar yield services on different cryptocurrencies, ビットコインを含む, イーサリアム, とライトコイン. It recently paid out more than $20 million in interest on its BTC and ETH deposits.

LINK was trading at 29.28 このプレスタイムで.

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ソース: Newsbtc