Chainlink Approaches Significant Supply Wall #togrp7
Chainlink has seen a significant increase in bullish momentum, currently leading the cryptocurrency market. Still, multiple indicators suggest that LINK could experience a brief correction if it enters the $10 zone. Chainlink has outperformed the top 10 cryptocurrencies by market capitalization.
LINK rallied from a low of $8.97 to an intraday high of $9.50, before cooling to $9.21 at press time. As upward pressure continues to mount, the token appears to have more room to ascend. The development of a descending triangle on the daily chart suggests that Chainlink could rise another 11% before its uptrend reaches exhaustion. The Y-axis of this technical formation projects a $10.60 target for LINK since it overcame the $7.30 resistance level on July 29.#togrp7
