Chainlink (LINK) has seen quite some action in the past few weeks. Finally, it has garnered enough bulls to break out. Yet, there are multiple strong resistance points (places where many people are selling the token), and LINK needs serious bulls to copy SPCT’s 900% surge potential. So, the question remains: can LINK copy VC Spectra (SPCT) as it has previously copied BTC? Let’s delve into the details!
After seeing a long haul from the sub $6 range in the previous weeks, Chainlink (LINK) has finally broken through the $6 barrier. LINK followed in as BTC plummeted 16% and hit its monthly high of $31,233. However, LINK immediately faced its first resistance point of $6.36, which it couldn’t break.
Consequently, a slightly bearish trend closed the Chainlink token trade at $5.91. Regardless of the settling bear trend, the bulls finally rose, and the Chainlink token gained 5.49% and rose above the resistance line of $6.36 momentarily before dropping to $6.1-ish levels on 25th June.
Getting to the overall trend, the 4H and weekly Chainlink charts clearly show a growing bear market for LINK. The token is being oversold, which might result in a further drop in its value. This situation resembles April’s bear market for the Chainlink (LINK) token.
With the recent up trend, we finally see some action from the Chainlink bulls resulting in a slightly bullish trend. However, the $6.36 resistance line might be too much for the bulls after two failed attempts to break through.
Whether Chainlink’s LINK token can break the resistance and turn strongly bullish as the SPCT token entirely depends on its market cap and overall volume, which, as of the time of this writing, is not looking bullish.
VC Spectra (SPCT), the parent chain of the SPCT token, has already raised more than $2.3 million in presales. This ultimately promises its investors a 900% surge and 10x their investment as the VC Spectra token price draws nearer to the launch target of $0.08 from the current price of $0.008.
Additionally, VC Spectra (SPCT) is well on its way to maintaining its upward trajectory. With multiple investment portfolios and the strong backing of a hedge fund, VC Spectra (SPCT) is looking to top the charts in green. Especially since there are no intermediaries involved, users have full authority over their funds and can move them around at will.
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