Chainlink price analysis: LINK price overcomes $17.17 resistance after latest uptrend

Chainlink price analysis Price overcomes resistance after latest uptrend

TL;DR Breakdown

  • Price has been recovered up to $17.17.
  • Chainlink price analysis shows uptrend.
  • Support is quite stable at $11.55.

The recent Chainlink price analysis confirms a bullish trend for the cryptocurrency, intensifying the buying momentum. Green candlesticks are marking the price chart, indicating a strong rise in the coin value. If the bullish rally continues in the future, further improvement in LINK/USD value can be expected. The recent upturn has taken the price to $17.17 as it has recovered.

LINK/USD 1-day price chart: Cryptocurrency value recovers as bulls advance

The one-day Chainlink price analysis shows that the bullish momentum has been recovered in the past 24-hours. Although the cryptocurrency faced loss in the past few days, the bulls are now on their way towards achieving their next target. The short-term trending line is still traveling ascendingly, and the price is now settling at the $17.17 mark. After the latest upturn, the price has crossed its moving average (MA) value, i.e., $16.23.

Chainlink price analysis: LINK price overcomes $17.17 resistance after latest uptrend 1
LINK/USD 1-day price chart. Source: TradingView

The SMA 50 curve is still traveling at a greater height than the SMA 20 curve, as the bears were overpowering the market trends in the earlier weeks. If we move towards the Bollinger bands indicator, then the upper value is $27.03, and the lower value is $11.55. The Relative Strength Index (RSI) score has improved to 39.92 after the bullish return.

Chainlink price analysis: Price covers downward movement as bears take charge

The hourly price prediction for LINK/USD is going in the bearish direction as the price underwent a sufficient decline in the past few hours. The market trends have constantly fluctuated, but currently, the bears are moving ahead. Due to the latest bearish current, the price moved down to a $17.15 low in the last four hours. Further decline is possible if the bears remain consistent. The moving average value is relatively stable, i.e., $17.25.

Chainlink price analysis: LINK price overcomes $17.17 resistance after latest uptrend 2
LINK/USD 4-hours price chart. Source: TradingView

The volatility is decreasing, which means that the price might find a bullish recovery in the coming hours, a relatively positive hint. The upper band of the Bollinger bands indicator is now touching the $18.00 position, whereas its lower band is at the $16.16 position. The RSI score is in a quiet neutral zone and has dropped up to 54.17 due to the latest downturn taken by the price curve.

Chainlink price analysis: LINK price overcomes $17.17 resistance after latest uptrend 3
LINK/USD Technical Indicators Chart. Source: TradingView

The cryptocurrency faced a considerable loss in the preceding weeks, further confirmed by the technical indicators chart. There is a selling signal for LINK/USD because of the constant bearish trend. There are 14 indicators on the selling side; ten indicators are neutral, whereas only two are on the buying side.

The Moving Averages Indicator indicates a strong bearish trend for the market as well. We can see that 13 indicators are sitting in the selling position, whereas one indicator each occupies the neutral and buying positions. The Oscillators give a neutral hint regarding the latest price trends as nine indicators are in a neutral position while one indicator is on selling and buying positions.

Chainlink price analysis conclusion

The one-day and four-hour Chainlink price analysis shows quite encouraging results for the buyers today, as the price followed an upward curve. The coin value has been raised to $17.17 due to the latest bullish wave. On the other side, the four-hour price chart displays red candlesticks as the market followed a bearish trend in the past few hours.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Cryptopolitan.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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