Chainlink Confirmed as Bull Market Begins on Higher Timeframes

Chainlink has continued its upward momentum, with higher timeframes indicating the start of a bull market phase. According to Michaël van de Poppe, Chainlink's price has been strong, sitting at $9.76 within a bullish trend. The EMA50 is currently at $9.19 and the EMA200 at $8.59, serving as key support layers.

The MACD indicator has registered a golden cross at 0.14, while the RSI holds at 69.37. With Chainlink's price testing the upper Bollinger resistance at $9.72, it is likely that there will be a healthy retracement towards the 50-EMA support at $9.19 before continuation.

Traders are watching for a potential sweep to $10.03 followed by a long entry beneath $9.20 on lower timeframes. Chainlink's price analysis and LINK technical analysis both point to sustained momentum over the past six months.