LINK Price Prediction: Chainlink Bulls Aim Key Bullish Break

0 0

Chainlink’s LINK price is showing positive signs above $6.80. The price could rally if there is a clear move above the $7.40 resistance zone.

  • Chainlink token price is showing positive signs and rising from $6.50 against the US dollar.
  • The price is trading above the $6.80 level and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $7.08 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
  • The price could rally if there is a clear move above the $7.40 resistance zone.

Chainlink (LINK) Eyes Fresh Rally

After a major decline, LINK price found support near the $6.00 zone against the US Dollar. A low was formed near $5.90 and the price started a fresh increase, similar to bitcoin and ethereum.

There was a clear move above the $6.50 and $7.00 resistance levels. The price even traded close to $7.50. A high is formed near $7.46 and the price is now correcting lower. There was a minor decline below the $7.25 level. The price dropped below the 23.6% Fib retracement level of the upward move from the $6.45 swing low to $7.46 high.

Chainlink price is still trading above the $6.80 level and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $7.08 on the 4-hours chart of the LINK/USD pair.

LINK Price Prediction

Source: LINKUSD on TradingView.com

On the upside, the price is facing resistance near the $7.30 zone. The first major resistance is near the $7.50 zone. A clear break above $7.50 may possibly start a fresh increase towards the $8.50 and $8.80 levels. The next major resistance is near the $9.20 level, above which the price could revisit $10.

Dips Supported?

If chainlink’s price fails to climb above the $7.50 resistance level, there could slowly move down. An initial support on the downside is near the $7.08 level and the trend line.

A break below the trend line support might push the price further lower towards $6.80 or the 61.8% Fib retracement level of the upward move from the $6.45 swing low to $7.46 high. Any more losses could lead the price towards the $6.50 level.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level.

Major Support Levels – $7.00 and $6.80.

Major Resistance Levels – $7.50 and $8.80.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 27,786.44
ethereum
Ethereum (ETH) $ 1,902.47
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 312.42
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.503093
cardano
Cardano (ADA) $ 0.380235
staked-ether
Lido Staked Ether (STETH) $ 1,900.89
dogecoin
Dogecoin (DOGE) $ 0.072615
matic-network
Polygon (MATIC) $ 0.903904
solana
Solana (SOL) $ 20.82
tron
TRON (TRX) $ 0.076439
polkadot
Polkadot (DOT) $ 5.47
litecoin
Litecoin (LTC) $ 91.46
binance-usd
Binance USD (BUSD) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.53
dai
Dai (DAI) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,826.46
uniswap
Uniswap (UNI) $ 5.15
chainlink
Chainlink (LINK) $ 6.56
leo-token
LEO Token (LEO) $ 3.56
cosmos
Cosmos Hub (ATOM) $ 10.78
okb
OKB (OKB) $ 47.10
monero
Monero (XMR) $ 153.32
the-open-network
Toncoin (TON) $ 1.87
ethereum-classic
Ethereum Classic (ETC) $ 18.30
stellar
Stellar (XLM) $ 0.089938
bitcoin-cash
Bitcoin Cash (BCH) $ 114.91
internet-computer
Internet Computer (ICP) $ 4.89
true-usd
TrueUSD (TUSD) $ 1.00
filecoin
Filecoin (FIL) $ 4.65
lido-dao
Lido DAO (LDO) $ 2.21
aptos
Aptos (APT) $ 8.41
hedera-hashgraph
Hedera (HBAR) $ 0.052568
quant-network
Quant (QNT) $ 110.88
arbitrum
Arbitrum (ARB) $ 1.22
crypto-com-chain
Cronos (CRO) $ 0.060593
vechain
VeChain (VET) $ 0.020584
near
NEAR Protocol (NEAR) $ 1.62
apecoin
ApeCoin (APE) $ 3.21
ggtkn
GGTKN (GGTKN) $ 0.112323
the-graph
The Graph (GRT) $ 0.125548
algorand
Algorand (ALGO) $ 0.151009
the-sandbox
The Sandbox (SAND) $ 0.55178
paxos-standard
Pax Dollar (USDP) $ 0.999888
frax
Frax (FRAX) $ 1.00
edgecoin-2
Edgecoin (EDGT) $ 1.00
eos
EOS (EOS) $ 0.900354
aave
Aave (AAVE) $ 67.12
rocket-pool
Rocket Pool (RPL) $ 49.69
elrond-erd-2
MultiversX (EGLD) $ 36.82
render-token
Render (RNDR) $ 2.50
fantom
Fantom (FTM) $ 0.326979
theta-token
Theta Network (THETA) $ 0.876881
tezos
Tezos (XTZ) $ 0.941105
decentraland
Decentraland (MANA) $ 0.479574
blockstack
Stacks (STX) $ 0.627459
axie-infinity
Axie Infinity (AXS) $ 7.05
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,039.78
flow
Flow (FLOW) $ 0.752028
havven
Synthetix Network (SNX) $ 2.41
immutable-x
ImmutableX (IMX) $ 0.760723
neo
NEO (NEO) $ 10.73
bitdao
BitDAO (BIT) $ 0.512001
usdd
USDD (USDD) $ 0.999827
kucoin-shares
KuCoin (KCS) $ 7.49
gala
GALA (GALA) $ 0.029858
radix
Radix (XRD) $ 0.070095
curve-dao-token
Curve DAO (CRV) $ 0.853532
whitebit
WhiteBIT Token (WBT) $ 4.78
gatechain-token
Gate (GT) $ 4.89
bitcoin-sv
Bitcoin SV (BSV) $ 34.11
conflux-token
Conflux (CFX) $ 0.311431
bitget-token
Bitget Token (BGB) $ 0.462199
kava
Kava (KAVA) $ 1.13
iota
IOTA (MIOTA) $ 0.218955
injective-protocol
Injective (INJ) $ 7.42
klay-token
Klaytn (KLAY) $ 0.190868
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
bittorrent
BitTorrent (BTT) $ 0.00000060536219
maker
Maker (MKR) $ 636.36
pepe
Pepe (PEPE) $ 0.000001
sui
Sui (SUI) $ 1.02
casper-network
Casper Network (CSPR) $ 0.04929
chiliz
Chiliz (CHZ) $ 0.100588
huobi-token
Huobi (HT) $ 3.20
tokenize-xchange
Tokenize Xchange (TKX) $ 6.45
mina-protocol
Mina Protocol (MINA) $ 0.567066
pax-gold
PAX Gold (PAXG) $ 1,952.28
optimism
Optimism (OP) $ 1.52
terra-luna
Terra Luna Classic (LUNC) $ 0.000086
frax-share
Frax Share (FXS) $ 6.84
marumarunft
marumaruNFT (MARU) $ 0.249968
gmx
GMX (GMX) $ 56.21
dash
Dash (DASH) $ 43.24
compound-ether
cETH (CETH) $ 38.18
ecash
eCash (XEC) $ 0.000025
tether-gold
Tether Gold (XAUT) $ 1,942.52
trust-wallet-token
Trust Wallet (TWT) $ 1.09