- Chainlink price analysis is bullish for today.
- LINK/USD saw a quick retracement to the $27 mark yesterday.
- Bulls pushed LINK higher today.
Chainlink price analysis is bullish for today as a new higher low was set yesterday, and the market price started to increase earlier today. Therefore, we expect LINK/USD to continue moving higher later today and attempt to breach the $30 mark next.
The cryptocurrency market traded in the green over the last 24 hours. The market leader, Bitcoin, is up by 2.26 percent, while Ethereum is up by 4.74 percent. Meanwhile, Binance Coin (BNB) and Cardano (ADA) are among the best performers, gaining around 11 percent.
LINK/USD traded in a range of $26.90 – $29.30, indicating a substantial amount of volatility. Meanwhile, the total trading volume has increased by 9.54 percent and totals $1.55 billion over the last 24 hours. The total market capitalization trades around $12.9 billion, ranking the coin in 12th place overall.
LINK/USD 4-hour chart: LINK targets the $30 mark next?
On the 4-hour chart, the Chainlink price can be seen to rally higher today as bulls prepare to test the $30 mark again.
The Chainlink price has rallied by more than 125 percent from the last swing low of $13.4, set on the 20th of July. However, after spiking to the $30 mark early last week, resistance was met.
LINK/USD quickly retraced by almost 20 percent until support was established around $25. From there, bulls started to push the market higher to the $29 mark. After a slight retracement over the weekend, another higher low was set above $27.
Overall, this Chainlink price action development indicates that bulls are ready to push the market higher later this week. The first resistance to break is still the previous swing high at $30. After that, LINK/USD could rapidly move to the $33 next major resistance.
Chainlink price analysis is bullish for today as a slight rally was seen earlier today after another higher low was set yesterday at the $27 mark. Therefore, we expect LINK/USD to see further upside over the next 24 hours and break the $30 resistance later this week.
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.