Most of the top 100 cryptocurrencies by market cap have noted minor gains in the past 24 hours. As is usually the case, some currencies stand out, either for better or worse. In the case of Chainlink, the price momentum looks rather promising. A solid gain across the board seems to generate a lot of buzz on social media right now.
Chainlink Price Makes Big Moves
It is quite interesting to see how the different altcoins deal with these current market circumstances. Although there is plenty of green across all markets, it would appear there is still some uneasy momentum in place as well. That can easily push all currencies – including Bitcoin – down in value again over the coming hours.
For the time being, the Chainlink price continues to do its own thing. solid 36% gain in USD and BTC value makes this market look extremely appealing. There is also a 23% gain over Ethereum, which cannot be overlooked either. Combined with $10.3m worth of trading volume, it seems this uptrend could be sustained a while longer.
Looking across social media, it seems the LINK price is the proverbial talk of the town right now. Fareed Mahdi has closely monitored the charts and notes how ChainLink is up by over 25% compared to yesterday. It is a remarkable feat for any altcoin, especially when considering how all markets continue to struggle throughout 2018.
Crypto Update Nov 1st AM. #chainlink up 25 per cent from yesterday 😎
.#cryptocurrency #crypto #cryptocurrencies #cryptocurrencynews #cryptoexchange #tech #trading #cryptotrading… https://t.co/1NjSbBNGSt
— Fareed Mahdi (@fareed_mahdi) November 1, 2018
A more technical view is presented to the masses courtesy of Cryptoheld. These indicators seem to confirm the Chainlink price will undergo an even bigger uptrend in the hours to come, although finding a new key level of support will also be troublesome. Even so, the outlook remains positive, at least for the time being.
— Cryptoheld.com (@CryptoheldCOM) November 1, 2018
As is usually the case in the altcoin world, memes pertaining to cryptocurrencies tend to generate a lot of excitement. Dogecoin is certainly a leader in this department. although some intriguing Chainlink memes are showing up on Twitter a swell. This might be a one-off thing, but it is still entertaining regardless.
— BEagle (@CryptoEagle2) November 1, 2018
Based on the current market indicators, it would appear interesting things are bound to happen fro Chainlink. Although its price might not reach $0.75 anytime soon, this push to well beyond $0.5 is quite spectacular to behold. There is still work to be done, but there is a reason for rather cautious short-term optimism as well.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.