LINK Technical Analysis: Will This Bull Run Cross Above $10 Mark?

The LINK price increases sharply with an ascending triangle breakout ready to surpass $8. Will this bull run sustain the buying pressure to reach $10? Key technical points: The LINK prices jumped by 9.31% in the last 24 hours. The phenomenal bullish engulfing candle is ready to crack above the $8 mark. The 24-hour trading volume of Chainlink is $989Million, indicating a hike of 74%. Past Performance of LINK The LINK price action showcases a sideways continuation between $5.87 and $7.97 after a sharp downfall from $9.24 due to the rejection from the 50-day SMA. However, the recent bullish reversal within the consolidation range with a morning star pattern challenges the overhead resistance and the 100-day SMA. The current bull run accounts for a 23% jump in the last three days and displays a spike in intraday trading volume, reflecting the bullish support. Source- Tradingview LINK Technical Analysis The bull run in LINK prices Breaks the $7.35 resistance level, which has kept multiple bullish attempts within the check. Hence if the daily candle closes above the $8 mark and the 100-day SMA, the bull run will continue to the next psychological mark of $10. As mentioned before, the bull run challenges the 100-day SMA after exceeding the 50-day average in the daily chart. Hence the breakout of the 100-day SMA will provide a bullish breakout entry spot for traders. The daily RSI slope reverses sharply to break the 14-day SMA and the...