Chainlink has tried in recent months to break a number of resistances on its way to the top.
The coin has had a lot of success, but the resistance at $13 proved to be the biggest barrier lately.
Over the weekend, LINK almost managed to break it and is now preparing to make another attempt.
Chainlink (LINK) has had quite a turbulent year 2020. Over the past 11 months it has risen from $1.8 to $18, only to fall to $8.20 and rise again to $13. In the last few days it managed to break through a resistance at $11.50 and even climb above $13, although a quick correction brought it back below this level.
However, LINK still remains quite strong and seems to be preparing for another attempt to break through this next resistance.
LINK in 2020
In January 2020 the LINK price was, as mentioned, quite low. It was at what was considered its lowest level, $1.80. During the rise in February, the coin began to grow in line with the rest of the market, only to fall back to $1.8 in mid-March when COVID-19 fears took over.
After this decline, LINK experienced months of slow recovery, which gradually pushed it up to $4.80, its high from February 14th, when it had just reached its peak at the beginning of the year.
The second time LINK reached this high was in late June, but instead of being rejected again – the coin shot up. It broke through one level after the other with only slight setbacks and finally reached its ATH at $19.15.
However, the resistance at $19 finally managed to push it back down and the coin dropped to $14. She tried to climb back up again, although she never reached her ATH again, and each attempt resulted in a stronger rejection of lower resistance, eventually pushing her all the way down to $8.
This new low allowed LINK to stabilize and start a new wave of rises, most of which were blocked by a resistance at $11.50. However, he finally managed to break through this level at the end of October, only to hit another at $13 and experience another rejection, this time to $10.
LINK attempted another rise that weekend and even managed to break through the $13 mark and climb to $13.30. The price was rejected again and dropped to $11.50, which now served as support,
Now LINK is showing signs of a further increase, and at the time of writing the price of the coin is $12.45. There will probably be more of this in the coming days unless LINK gathers enough strength to push through $13 and make this resistance its latest support.