Top Crypto Chainlink to Go Into Price “Orbit” Should $4 Price Region Hold

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Like Bitcoin and other crypto assets, Chainlink (LINK) has been on a remarkable rally since the lows. The leading cryptocurrency this week hit a high of $4.20 — up 170% from the lows of March 12th — per data from Tradingview.LINK has only held above $4.00 for a short period of time. But a prominent analyst suggested that should this region hold as support, Chainlink could go into “price discovery ORBIT.”Chainlink (LINK) Needs to Hold ~$4.00According to a prominent crypto trader, he thinks that if Chainlink can “build some semblance of structure above” $3.84, the cryptocurrency could soon go into “price discovery ORBIT.”While he didn’t expand on this point, his chart indicates that over the past few months, the level of $3.84 has been extremely important, acting as support and resistance on multiple occasions.Chart from cryptocurrency derivatives trader Cantering ClarkAs it stands, the cryptocurrency seems poised to hold this level.LINK is trading at $4.07 as of the time of this article’s writing, with no notable pullback despite Bitcoin’s 5% retracement. In fact, on the day, the altcoin is up 5%, strongly outperforming the cryptocurrency market leader.Strong Fundamental Factors Could Support the CryptoThe fundamentals of the crypto could support the holding of the current price levels.Chainlink was just added to Gemini, the New York-based crypto exchange run by the Winklevoss Twins, some of the most prominent Bitcoin bulls. This listing, which also sees five other digital assets now supported by the platform, came shortly after Gemini CEO Tyler Winklevoss said:“I really appreciate the passion of the LINK Marines. Their fervor and dedication reminds me of the early Bitcoin and Ethereum communities. Unlike many other crypto armies, they are dedicated to a project that has real promise and technical merit.”

Via: https://www.newsbtc.com

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