- Chainlink price analysis is bullish today.
- LINK/USD saw a substantial advance yesterday.
- Bullish momentum has continued today.
The price of Chainlink is presently trading in the bullish territory, with the further upside still to be set after a strong increase yesterday. As a result, we anticipate LINK/USD to break through its prior high and head toward the next significant barrier at $30.
Cryptocurrency heat map. Source: Coin360
The overall market traded with mixed results over the last 24 hours. The market leaders, Bitcoin and Ethereum both traded in the red, with a loss of 2.88 and 2.99 percent, respectively. Meanwhile, Solana and VeChain (VET) dominate the market, with a gain of around 7.5 percent.
In the last 24 hours, LINK/USD traded in a range of $28.3 to $28.98, suggesting little swings in that time period. Trading volume has risen by 23.65 percent and stands at $1.15 billion, putting the coin in 17th place among all cryptocurrencies with a total market capitalization of around $13
LINK/USD 4-hour chart: LINK to move to $30 next?
On the 4-hour chart, we can see Chainlink’s price action continuing to rise after a halt last night, suggesting that today will be a new high.
LINK/USD 4-hour chart. Source: TradingView
Over the previous weeks, Chainlink price action has been unable to continue upwards. After an early rise to $28 in October, a several-week consolidation followed.
On the 12th of October, a substantial downturn occurred, setting a higher significant swing low before LINK/USD returned to $28 resistance. On the 16th of October, after a brief rejection, the $28 mark was briefly broken, indicating increasingly bullish momentum.
After a several-day retreat, the $25.5 mark saved the day, prompting the Chainlink price to establish a higher low. After some consolidation above the support, bullish momentum resumed yesterday evening. The $28 level was razed overnight, with LINK/USD rising today further.
The price of Chainlink has remained bullish since the beginning of this week, fueled by robust momentum. As a result, we anticipate that today’s high for LINK/USD will be broken soon and that it will move towards $30 next resistance.