Chainlink

<ul> 
 <li>Chainlink (LINK) emerges as a leader in altcoin recovery post-East Asian crisis, showing signs of a bullish turnaround.</li> 
 <li>Key support at $13 sparks optimism for a potential rally beyond $20, despite sideways trading and a looming death cross.</li> 
 <li>Recovery rally boosts LINK price by 18%, aiming to reclaim $20; caution advised for potential reversal risks.</li> 
</ul> 
<p>As the cryptocurrency market begins to recover from the bearish impact of the East Asian crisis, altcoins are showing signs of a comeback. Among the coins leading the charge is <a href="https://thenewscrypto.com/?s=chainlink" target="_blank" rel="noreferrer noopener">Chainlink</a> (LINK), whose price action reflects a high potential for a bull run, starting with another bounce back from crucial support levels.</p> 
<p>The $13 support level has provided a cushion for a bullish turnaround for the third time, teasing the possibility of a sharper recovery. This development has left investors and traders wondering if this turnaround rally could propel Chainlink’s price beyond the $20 mark.</p> 
<h2 class="wp-block-heading" id="h-chainlink-price-performance-sideways-struggle-and-potential-death-cross">Chainlink Price Performance: Sideways Struggle and Potential Death Cross</h2> 
<p>On the daily chart, LINK’s price action has been trading sideways, struggling to sustain bullish momentum. The cryptocurrency has taken multiple dips to the crucial support level of $13, while a potential death cross looms over the chart as the 50-day Exponential Moving Average (EMA) shows a downtick.</p> 
<p>The recent 40% dip to the $13 level has pushed LINK below the 200-day EMA. However, the coin has found another boost in bullish momentum, leading to an impressive 18% jump in the last five days.</p> 
<p>This recovery rally has resulted in a V-shaped reversal, allowing LINK to reclaim the psychological mark of $15. Currently, the LINK price trades at $15.475 with an intraday move of 2.49%, reflecting an increase in underlying bullishness.</p> 
<h2 class="wp-block-heading" id="h-will-price-cross-20">Will Price Cross $20?&nbsp;</h2> 
<p>As the market recovers and the recovery rally gains momentum, the LINK price presents an opportunity for investors to buy the dip. If Chainlink’s price trend maintains a positive trajectory, the altcoin could surpass the $20 mark, with some optimistic projections even suggesting a potential rise to the $30 level.</p> 
<p>However, investors should also be aware of the potential risks. A reversal from the $16 level could lead to another drop to the $13 mark. Furthermore, a drop below $13 could prove fatal for Chainlink, potentially leading to a 30% decline to $8.50.</p>

Chainlink (LINK) Poised for Bull Run as Market Recovers

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