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Chainlink Bullish Divergence: What To Expect In 2023

The Chainlink price has had a somewhat mediocre performance over the past few months. Once a cryptocurrency that was within the top 10 by market capitalization, LINK has currently slipped to 22nd place. However, within the next few months, Chainlink could be poised to outperform other cryptocurrencies.

In addition to the fundamentals, LINK’s weekly chart shows an extremely bullish occurrence. The chart reveals that the LINK price has formed a bullish divergence with the RSI on a weekly basis. The bullish divergence is shown by the fact that the price has recently fallen to new local lows, while the RSI is not making a new low.

This shows that the bears are losing power and that the LINK bulls are ready to control the market again. Ultimately, the bullish divergence could signal the end of the prolonged downtrend.

Chainlink Chainlink $23.66
+6.07%
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