#link Market Trend Analysis:
LINK fell with the market at the beginning of this week, but quickly recovered and hit a monthly high of $11.74 on September 20. But it ended up closing with a small increase of 1.76%. Despite the stablecoin issued in partnership with Fireblocks, the token is still one of the poor performers this week.
Currently, LINK is trading above the middle track of the Bollinger Band ($10.70) and is close to retesting the upper track ($11.74). Breaking through the upper track resistance level may provide enough strength for bulls to regain $12.
This week, traders should focus on breaking through the $11.74 trend, which may indicate further gains. However, breaking through the middle track of $10.70 will bring the support level of the lower track ($9.65) into play.
Sergey Nazarov and Steve Ellis founded Chainlink in 2017. The cryptocurrency was originally envisioned as a decentralized oracle network that connects smart contracts with real-world data.
