Chainlink Surpasses A Major Level After 65% Rally, Heading To $3 Now

The Chainlink (LINK) cryptocurrency is the 17th most valuable coin on the market. It recently surpassed the $2.8 level for the first time in three months. As Chainlink surpasses a major level, we can see that the cryptocurrency is rallying by more than 65% over the past week or two and still maintains an active community of fans, investors and developers.

Thanks to its strong partnership, the Chainlink ecosystem is solid and LINK is one of the few cryptocurrencies which rose after a dreadful autumn with 40% losses from their record high. Major cryptocurrencies such as ETH, XRP and BCH are generally still down by 80% to 95% from their all time highs.

However, the Chainlink news show that LINK is headed to the $3 levels next and could rise to $3.7 very quickly. According to analysts, the fact that Chainlink surpasses a major level tells a lot about the cryptocurrency moving up. One trader even noted that the initial exchange offerings (IEOs) are starting to see some momentum after a slow past six months.

“A breakout above $2.33, retest & continuation. Approaching the next target at $2.80 for a nice 21% move here. Meanwhile; IEO’s starting to show a slight sign of life as BNB is bouncing upwards as well,” the analyst said on Twitter.

On January 16th, we could also see that Binance Futures integrated Chainlink and now allows users to trade the LINK cryptocurrency with up to 75x leverage. From what we have seen so far in the crypto news, whenever a major futures trading platform integrates a cryptocurrency, it tends to see significant volatility.

So, as Chainlink surpasses the $2.8 levels, the opinions between analysts are split as to whether the crypto will keep on rising to $3 or will stagnate. When it comes to the general adoption and infrastructure, we can see that LINK is being used by conglomerates like Google and platforms like the Google Cloud.

In the short-term, however, the technicals such as the clean break of resistance above $2.8 and the overall improvement in the sentiment around the entire crypto market are very likely to be the biggest factors for the upside potential of this cryptocurrency – as well as the potential of the entire altcoin market.