TL;DR Breakdown
- Chainlink price prediction appears to be bullish.
- The strongest resistance is present at $17.6.
- The strongest support is present at $13.4.
The Chainlink price analysis for March 1, 2022 reveals a strong emerging bullish movement, suggesting a good start to the month for LINK. The price of Chainlink has remained high throughout the day. On February 28, 2022, the price climbed rapidly from $13.6 to $15.1 and continued increasing until it reached $15.3, where it levelled off.
The resistance at $17.6 is the strongest point on the graph, and if it can be breached, the price could potentially reach as high as $21. However, this is unlikely to happen in the next 24 hours. The support at $13.4 is the strongest point on the graph and is likely to hold in the short term. The overall trend for Chainlink is bullish and is likely to continue that way over the next few days.
Chainlink remains one of the most popular cryptocurrencies on the market, and its price looks set to increase even further in the near future. If you’re looking to invest in Chainlink, now might be a good time to do so.
LINK/USD 4-hour price analysis: Latest developments
Following a growing move, the Chainlink price analysis shows market volatility. This implies that the price of Chainlink is becoming more vulnerable to variable change on one side or the other. The upper limit of the Bollinger band is set at $15.4, which serves as a strong resistance for LINK. Conversely, the lower limit of the Bollinger Band is set at $13.7, signifying the support level for LINK in case of a downward movement.
The Chaikin Money Flow indicator shows an increasing buying pressure within the market, which is a positive sign for the bulls. The indicator has breached above the zero line and is currently trading at 0.071, indicating that the market is bullish. The Relative Strength Index (RSI) is also in the bullish zone and is currently at 62.7, indicating that the market has entered into overbought territory.
Overall, the market looks bullish for the next 24 hours with a strong resistance at $15.4 and a strong support at $13.
The LINK/USD price appears to be moving over the price of the Moving Average, signifying a bullish movement. The market’s trend seems to be dominated by bulls. The LINK/USD price appears to be moving linearly towards stable dynamics, which could conserve the market’s bullish momentum.
LINK/USD 4-hour price chart source: TradingView
The Relative Strength Index (RSI) is 61, showing an overbought cryptocurrency stock. This means that the cryptocurrency falls above the upper neutral region. Furthermore, the RSI appears to move straight, indicating a consistent market. The dormant RSI score is caused by the equivalence of selling and buying activity.
Chainlink Price Analysis for 1-day: LINK conserves bullish momentum
The Chainlink price Analysis reveals the market’s volatility following a declining movement, which means that the price of Chainlink is becoming less prone to experience variable change on either extreme. The upper limit of the Bollinger’s band is present at $17.6, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $12.6, which serves as the most substantial support for LINK.
The LINK/USD price appears to be moving over the price of the Moving Average, signifying a bullish movement. The market’s trend seems to have crossed over the curve of the Moving Average just recently. The less volatile market may prove to be favorable for the bulls as they have good chances of maintaining their movement, giving the bears a hard time to recover.
However, the price of LINK seems to follow an upwards path towards the resistance, which could potentially shift the trend if it breaks; the fluctuation of the cost in either direction will decide the movement depending on the instability of the price in either direction.
LINK/USD 1-day price chart source: TradingView
The Chainlink price analysis shows the Relative Strength Index (RSI) to be 46, signifying a stable value for the cryptocurrency. This means that the cryptocurrency falls in the lower undervalued region. Furthermore, the RSI path seems to have shifted to a linear movement, indicating future stability. The dormant RSI score also means equivalence of buying and selling activity.
Chainlink Price Analysis Conclusion
The Chainlink price analysis reveals the cryptocurrency to follow a strong upwards trend with much room for bullish activity. The bulls have entirely taken over the market favored by the declining volatility, and they might be able to raise the price of LINK significantly and give the bears a run for their money.
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.
