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Chainlink price analysis: LINK value returns to $15.2 after bullish uplift

Chainlink price analysis LINK value returns to after bullish uplift

TL;DR Breakdown

  • Chainlink price analysis is bullish today.
  • Support for LINK is present at $14.
  • Resistance LINK/USD is found at $15.5.

The latest Chainlink price analysis is bullish for today and supports buyers as the price has undergone a considerable recovery since night. Although the bears were in the winning position on the price chart by lowering the coin value previously, recent progress has been in favor of bulls. This is a promising sign for cryptocurrency, as the price is again touching the $15.2 mark. Further recovery seems quite close as the buying momentum intensifies at a continuous rate.

The daily Chainlink price analysis shows a bullish inclination as the buying activity has been on the rise today. Earlier, a downward wave dominated the market as the bulls were facing strong resistance from the bearish side, and the coin is still at a loss of 2.86 percent for the past week. But now, it seems that the price trends are once again changing in favor of the buyers. The coin value has been enhanced up to the $15.2 mark gaining 3.42 percent value overnight. The price is still at a lower point than its moving average (MA) value which is at $15.79.

Chainlink price analysis: LINK value returns to $15.2 after bullish uplift 1
LINK/USD 1-day price chart. Source: TradingView

The volatility for LINK is increasing as the Bollinger bands show slight divergence with the upper limit of the volatility indicator at $19.1, representing resistance for the coin’s price function, and the lower band is at the $14.1 mark, representing support for LINK.

The relative strength index (RSI) is found at index 40 in the lower half of the neutral zone. The RSI slope is still upwards steeply, indicating the buying activity in the market.

The four-hour Chainlink price analysis confirms a bullish trend as the price has covered an upward movement in the past 12 hours. This can further be confirmed from the four-hour price chart, where the continuous appearance of green candlesticks indicates improvement in cryptocurrency value. The bullish momentum has successfully brought the price to the $15.2 mark, and likely the bulls are going to challenge the resistance present at $15.5 soon. Meanwhile, the moving average in the four-hour price chart rests at $14.9 below the price level.

Chainlink price analysis: LINK value returns to $15.2 after bullish uplift 2
LINK/USD 4-hour price chart. Source: TradingView

The volatility on the 4-hour chart is mild as the volatility indicator shows its upper limit at $15.8, representing resistance for Chainlink, and the lower limit of the indicator is at the $14.5 mark. The RSI is trading at index 46, the slope is upwards, but the steepness of the curve is getting lesser with time as the price oscillation has slowed recently, hinting at competition from the opposite side as the price is nearing the resistance level of $15.5.

The one-day and four-hour Chainlink price analysis predicts an upward trend for the cryptocurrency as the buying activity rises. The bulls have managed to escape the bearish shadow by upgrading the coin value to $15.2 and will challenge the resistance at $15.5 in the coming hours. The hourly price chart displays green candlesticks as the market value of LINK/USD is rising continuously. We expect LINK to continue upside breaking above $15.5 today.

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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