Chainlink price triggered a strong rebound in the times when the other altcoins were facing massive upward pressure.
Chainlink is considered one of the strongest undervalued altcoins, which has more room to swell. The recent pullback dragged the levels from the highs above $27 to below $20 but the quick intervention of bulls has elevated the price to $22.87. The trading volume has reached close to $3 billion with a rise of over 31%, marking the growing dominance of the bulls. Therefore, the LINK price is expected to revive a strong upswing to reach the resistance above $27 if the bulls manage to secure these levels before the end of the fortnight.
Regardless of the recent pullback, the LINK price remains strong within the rising, expanding channel in the short term. The token rebounded after hitting the interim support at $20.56, indicating the bulls were vigilant. On the other hand, the OBV, the volume-based indicator, triggered a bullish divergence, suggesting the start of a bullish trend. Meanwhile, the MACD shows a drop in the selling pressure as the buying volume intensifies. Therefore, the Chainlink price is expected to rise to $24.92 in the next few hours and achieve $25 in a short while.
