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Chainlink (LINK)’s Price Skyrockets To Set New All-Time High

After the world’s largest cryptocurrency, Bitcoin (BTC), and other famous altcoins who showcased impressive performance over the last few months, it seems that the time has come for Chainlink, one of the best-performing digital assets in the year 2020, to rock the cryptocurrency industry with its price performance.

It has started doing that as Chainlink’s native cryptocurrency LINK has broken its previous all-time high value and has recorded a new one. On the 16th of January, LINK broke the price level of $0.20 to move past its previous ATH of $19.85. The coin surged as high as to reach the $22.69 mark, which is the new all-time high value for LINK.

This became possible as a result of the recent price rally posted by LINK during the past two days. Its price value exploded to record 30 percent daily gains on the 15th of January.

When the year 2021 started, the ninth-ranked cryptocurrency could not perform well, and it was not on the list of those digital assets that exhibited an outstanding performance. The leading digital currency, Bitcoin (BTC), and the world’s second-largest digital currency Ethereum (ETH), were the prominent cryptocurrencies that dominated the cryptocurrency market with their price performance in the first week of the current year. These top two cryptocurrencies, however, have now slowed down a little bit after going through recent price crashes.

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After entering into the bullish territory, Chainlink’s LINK token is now firmly residing over there. At the time of writing, the price value of LINK is up by more than 17 percent in the last 24 hours while trading at around $22.22. While on the other hand, the coin is up by nearly 40 percent on a weekly basis.

The next short-term target for LINK is $25 as the coin is making attempts to break above the resistance level of $0.235. Once it is able to break above this level, it will succeed in achieving its short-term target. While on the other hand, the long-term target for the coin is $1. With the momentum LINK is currently moving forward, it will not be difficult for the ninth-ranked digital currency to achieve this significant milestone, and it may happen before the end of the present year.

MubaShar Nawaz (United Arab Emirates)

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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