LINK Token Defies Odds and Gains 8.3%, Could Reach New Highs
• Link (LN) has defied the odds and gained by 8.3% in the last 24 hours, outperforming most tokens in the market.
• The token has reported a notable rise in volatility in the last 24 hours, with the token trading in the range of $19.67 and $21.92.
• If the bulls grow stronger and sustain the uptrend, LN will likely continue with the rally and possibly aim for $22.
The cryptocurrency market has seen a period of consolidation over the past day, with no major gains being made. However, one token has managed to defy the odds and gain by 8.3% in the last 24 hours – LINK (LN). This token has outperformed most tokens in the market during this period and has reported a notable rise in volatility.
At the time of writing, LN was trading at $21.45, with buying pressure indicating that the token could rally higher. The token has reported trading volumes of $1.13 million over the past day, which is a healthy volume, considering that many traders are opting to stay away from the market due to fear and uncertainty. Its market capitalization now stands at around $143 million, ranking it as one of the low cap cryptos.
The recent gains in the price of LN could be attributed to the exhaustion of the downtrend. The token is down by 87% over the past year and is showing signs of a potential uptrend. If the bulls are able to sustain the current uptrend, LN will likely continue to rally higher and could possibly aim for $22. This could trigger a rally that could potentially lead to a 10x gain in the price of the token.
There is still uncertainty in the market, however, and the future of LN is largely dependent on how the broader cryptocurrency market performs. If the market is able to sustain its current rally, then LN has the potential to reach new highs. For now, traders should keep a close eye on the token and watch out for any potential uptrends.