Chainlink price analysis: Price rises up to $28.37 after minimal recovery

Chainlink price analysis Price rises up to after minimal recovery

TL;DR Breakdown

  • Price has heightened up to $28.37.
  • Chainlink price analysis favors the bulls.
  • Support for cryptocurrency is at $27.50.

The most recent Chainlink price analysis gives bullish signs for the day as more buying activity has been recorded. The price has been under the bearish shadow for the past few weeks, yet today a recovery in bullish momentum is being observed. The green candlestick on the price chart is marking a bullish price movement and the LINK/USD value has increased up to the $28.37 mark.

LINK/USD 1-day price chart: Price retouches $28.37 height after recent clash

The one-day Chainlink price analysis is confirming an increasing trend for the day as the bulls have successfully made a comeback in the last 24-hours. The green candlestick is an indication of the rising bullish momentum, and the LINK/USD value is now $28.4. Further recovery is possible in the coming days if the bullish efforts remain consistent. The moving average (MA) value for the cryptocurrency is now at $31.34.

Chainlink price analysis: Price rises up to $28.37 after minimal recovery 1
LINK/USD 1-day price chart. Source: TradingView

The volatility has increased as the Bollinger bands are covering more area now. The Bollinger Bands Indicator is dictating the following values for the day; the upper value is at $36.4 whereas the lower value is at $27.504. The Relative Strength Index (RSI) score is quite neutral and has moved up to 41.93 because of the recent uptrend.

Chainlink price analysis: Upsweep takes LINK value above $28.3 threshold

The price has been progressing quite rapidly for the past few hours, and an increasing trend was observed in the last four hours as well. The latest uptrend has improved the coin value up to the $28.3 mark, which is encouraging news for cryptocurrency buyers. Further buying activity is to continue in the next few hours as well as the bullish momentum seems to be intensifying. The price has surpassed its moving average value i.e. $27.47 after taking the bullish ride.

Chainlink price analysis: Price rises up to $28.37 after minimal recovery 2
LINK/USD 4-hours price chart. Source: TradingView

The Bollinger bands average value has decreased up to $28.45 in the last four hours. Because of the decreasing volatility, further uptrends can be expected in the next few hours. The Upper Bollinger band value has now changed to $30.59 whereas the Lower Bollinger band value has changed to $26.318. The RSI graph is showing an upward curve with an increase in score up to 42.86.

Chainlink price analysis: Price rises up to $28.37 after minimal recovery 3
LINK/USD technical indicators chart. Source: TradingView

The technical indicators chart for LINK/USD is showing a neutral signal as the number of selling and buying indicators are balancing each other out. There are six indicators on the neutral mark while 10 indicators each are on the selling and buying positions.

The Moving Averages Indicator is giving out a bearish signal because of the rise in selling trend in the past few weeks. A total of nine indicators are on the selling position, five indicators are on the buying position while only one indicator is on the neutral position. The Oscillators are giving a positive hint for the day as five indicators each are on the neutral and buying levels while one indicator is on the selling level.

Chainlink price analysis conclusion

The bulls have successfully dodged past the increasing bearish pressure by taking the price to a $28.37 high. This is great news for the buyers, as more chances are going to hit their way during the upcoming week. Further intensification in the uptrend is to be expected as the number of green candlesticks seems to be multiplying.

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.
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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