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  • LINK/USD is currently trading at $9.54 after peaking at $9.75 earlier.
  • Bulls are in control and have managed to recover from an extended consolidation period.

ChainLink had a massive breakout on July 6 going from a low of $4.7 to 6.58 in just three days. A week later, LINK managed to climb to $8.89 establishing a robust daily uptrend. After 10 days of consolidation, buyers defended the daily 26-EMA and continued with the uptrend above $9.

LINK/USD 4-hour chart

LINKUSD

Bulls have been defending the 12-EMA almost a dozen times in a row and were able to finally see a breakout above $9. They got continuation shortly after peaking at $9.75 before a small pullback.