Chainlink price is up another 13% so far this weekend, hit a new all-time high of $20.13
Not long ago, Chainlink (LINK) price hit a new all-time high of $ 20.13 on Binance. This ATH is $ 0.39 higher than yesterday’s all-time high of $ 19.84. As observed earlier, ChainLink tends to hit new ATH levels every 24 hours, after gathering enough bullish momentum.
Chainlink price flourishes thanks to the Zeus Capital Liquidation Campaign
The Zeus Capital liquidation campaign has become one of the significant drivers for LINK’s price increases. On August 2, the team shield LINK team started a pumping campaign. On the same day, LINK opened the day with a value of nearly $ 8. That means, in the span of 2 weeks, the LINK price more than doubled. At the time of writing, LINK is trading at $ 19.26. The traders and investors who bought LINK at $ 8 are now 143% profitable.
With LINK creating the latest all-time high after each price increase, predicting a peak value for LINK more or less becomes an exciting game for traders. First, the daily candle shows LINK tends to produce an all-time high almost every 24 hours.
Second, LINK’s daily transaction volume in August regularly increased. The histogram of the MACD increasingly confirms this with the MACD moving averages, still showing no signs of exhaustion.
Third, the daily MFI is high at 89 – indicating overbought for LINK. This can also be confirmed by a considerable deviation of the Daily Bollinger Bands from the average value.
Altogether, all technical indicators indicate that ChainLink (LINK) will soon correct. However, the FOMO around LINK has already started working, and there is no sign that Chainlink will stop rising.
Moreover, the purchase of ChainLink from Bar Stools’ Dave Portnoy has provided more fuel for LINK to continue to push forward in the coming days and weeks. As with all ChainLink analysis, investors and traders should use appropriate stop loss and low leverage when trading LINK on different derivative platforms.
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