The LINK price action shows a rising expanding channel after the reversal from $6.2, preparing for a jump above the 100-day EMA. The LINK price action displays the bullish reversal rally ready to cross above the $8 mark within the bullish expanding channel. Moreover, the rising trend increases the bullish influence over the EMAs, teasing another crossover event. So, will the uptrend sustain above $8? Key Points: The Chainlink prices test the sellers at the $8 mark. The bullish reversal shows a high likelihood of an uptrend to $9.3. The intraday trading volume in Chainlink is $612 million. Source – TradingView LINK Technical Analysis The LINK price displays an expanding channel forming in the daily chart as the reversal from $6.22 gains momentum. The reversal rally accounts for a price jump of 26% in the last three weeks. Currently, the Chainlink prices display a bullish engulfing candle of 4.68%, being the torch bearer of the recent 13% bull cycle within the channel. Furthermore, the growing prices cross the $8 barrier, and closing above this will highlight a breakout entry opportunity for sideline buyers. The rising trend in the intraday trading volume supports the bull cycle in Chainlink prices, teasing a bullish breakout. If the LINK price trend gains bullish momentum, the bull cycle will break the can drive the market prices to $9 before reaching the 200-day EMA. However, a reversal in Chainlink prices from the $8 resistan...
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