Chainlink price analysis: Bullish current causes LINK to level up to $17.7

Chainlink price analysis Bullish current causes LINK to level up to

TL;DR Breakdown

  • Chainlink price analysis is bullish.
  • Resistance for LINK is present at $18.1.
  • Support is quite stable at $17.5.

The latest Chainlink price analysis confirms that a bullish trend has been dominating the charts for the past three days. A rise in price has been observed in the last 24 hours as well, which is quite encouraging for the buyers. The price has been uplifted to the $17.7 level, as the bulls have been successfully maintaining the upwards trend line. Although the price has experienced a downfall this week as well as a strong correction was also observed extending from 31st January to 2nd February, today’s trend has been bullish again.

LINK/USD 1-day price chart: Cryptocurrency trades in greens as bulls continue ruling

The one-day Chainlink price analysis is encouraging news for the cryptocurrency buyers, as the price underwent recovery during the day. The coin value is currently settling at $17.7 position, and chances of further profit seem near as the coin is already at a profit of 4.41 percent over the last 24 hours. The price trends have been undergoing constant variation for the past week, and today the odds were in favor of the bulls. As displayed in the one-day price chart, the moving average (MA) value is found standing at the $16.8 mark below the price level.

Chainlink price analysis: Bullish current causes LINK to level up to $17.7 1
LINK/USD 1-day price chart. Source: TradingView

The volatility is relatively on the decreasing side but still quite high, which hints at the price variations to remain high in the upcoming week. If we talk about the upper and lower Bollinger bands Indicator’s values, the upper limit is present at $22.5, whereas the lower limit is found to be resting at $12.6. The Relative Strength Index (RSI) graph shows an upward curve as the score has enhanced up to index 45.

Chainlink price analysis: Price reduces again as bears take over

The 4-hour Chainlink price analysis supports the sellers today as the price has been covering range downwards following a bullish stream. Red candlestick is marking a decrease in price over the past four hours. Although the bulls were dominating earlier, the sellers currently control the market trends. Right now, the cryptocurrency value is found standing at $17.7. The moving average value in the four-hour price chart is standing at $17.4 position after a crossover observed between SMA 20 and the SMA 50 earlier yesterday.

Chainlink price analysis: Bullish current causes LINK to level up to $17.7 2
LINK/USD 4-hours price chart. Source: TradingView

The volatility is increasing, 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 $18.3 position, whereas its lower band is at the $14.9 position. The RSI score is in a quiet neutral zone and has dropped down to index 61 due to the latest downturn taken by the price curve.

Chainlink price analysis conclusion

The daily and hourly Chainlink price analysis shows support for the buyers, as a considerable amount of recovery in LINK/USD market value was observed today. The green candlestick marks an upgrade in the coin value throughout the past 24-hour. The buyers’ chances are increasing as the coin value is now settling at $17.7 high, and we expect LINK to continue upside again after correcting for a few hours more.

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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