Chainlink Enters Bull Market Territory on Strong Momentum

Chainlink has officially entered bull market territory, according to trader Michaël van de Poppe.

The cryptocurrency's price currently sits at $11.67 above its EMA50 support level of $10.21 and EMA200 support level of $9.02.

This bullish structure is maintained by the MACD golden cross at 0.6, which keeps momentum alive, while the RSI remains in a healthy range at 66.29, avoiding overbought territory.

LINK's price action is currently trading within its Bollinger bands, with the upper band set at $12.46, before potentially experiencing a retracement to the 50-EMA.