At press time, Chainlink [LINK] appeared poised for a rally in the coming days, as an assessment of price movements on the daily chart revealed an increase in buying momentum. 

Exchanging hands at $7.08 per LINK at press time, the altcoin’s value went up by 7% in the last week, per data from CoinMarketCap. With bullish sentiments in the market, LINK initiated a new bull cycle on 16 March, when its MACD line intersected with the trend line in an uptrend. Since then, the token’s value has increased by almost 10%. 

The commencement of the new bull cycle coincided with the return of LINK bulls. This was confirmed by the asset’s Directional Movement Index (DMI). On 16 March, the buyers regained control of the LINK market as the Positive Directional Index (green) rallied above the Negative Directional Index (red). At press time, the buyers’ strength at 22.50 rested solidly above the sellers at 15.40.