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Chainlink Price Analysis: LINK/USD pair bearish for the next 24 hours

Chainlink Price Analysis

TL;DR Breakdown

  • Chainlink price analysis is bearish today.
  • The strongest resistance is present at $16.0.
  • The strongest support is present at $12.4.

Yesterday, the Chainlink price analysis indicates that the market is following a shaky bearish trend, implying a good start to the month for LINK. The price of Chainlink has been steadily increasing over the previous several hours. On March 7th, 2022, the price rose dramatically and hit $13.6 before declining again under the resistance at $16.0.

The market is expected to continue following this shaky bearish trend over the next few days. The strongest resistance is present at $16.0, while the strongest support is present at $12.4. If the market breaks past either of these levels, it could indicate a major change in the trend.

LINK/USD 4-hour price analysis: Latest developments

The Chainlink price analysis shows that the market is still following a shaky bearish trend. The LINK/USD pair hit a high of $13.6 on March 7th, 2022, before declining again under the resistance at $16.0.

Chainlink Price Analysis: LINK/USD pair bearish for the next 24 hours 1
LINK/USD 4-hour price chart source: TradingView

The MACD indicator is currently in the bearish zone and suggests that the market is not ready to reverse its trend just yet. The RSI is also in the bearish zone and points to a continuation of the current downtrend.

The next key resistance level is at $13.6, while the next key support level is at $12.4. These levels could be tested in the near future if the market continues following its current trend.

Chainlink Price Analysis for 1-day: LINK about to break

The Chainlink price analysis for 1-day shows that the LINK/USD pair is about to break resistance at $16.0. If this happens, it could signal a major change in the trend.

The Chainlink price analysis for 3-day shows that a bullish breakout may be underway. The LINK/USD pair has been trading sideways for the past few days, but it looks like it might be ready to break out. If this happens, it could indicate a major change in the trend.

The Relative Strength Index (RSI) is 44, indicating a stable cryptocurrency stock. This means that the cryptocurrency falls above the lower neutral region. Furthermore, the RSI appears to move upward, indicating an increasing market. The dominance of buying activity causes the increasing RSI score.

The Relative Strength Index (RSI) is 45, indicating a stable cryptocurrency stock. This means that the cryptocurrency falls above the lower neutral region. Furthermore, the RSI appears to move upward, indicating an increasing market. The dominance of buying activity causes the increasing RSI score.

The Chainlink price prediction for one 1-month shows that the market may be about to enter a bullish trend. The LINK/USD pair is expected to break resistance at $16.0 and reach a high of $21.0.

Chainlink Price Analysis: LINK/USD pair bearish for the next 24 hours 2
LINK/USD 1-day price chart source: TradingView

The market is expected to continue following this shaky bearish trend over the next few days. The strongest resistance is present at $16.0, while the strongest support is present at $12.4. If the market breaks past either of these levels, it could indicate a major change in the trend.

Chainlink Price Analysis Conclusion

The Chainlink price analysis suggests that the cryptocurrency will most likely continue to rise, albeit with a lot of volatility. The bears have taken control of the market at the moment, but declining volatility is on the side of the bulls, allowing them to substantially increase LINK’s value and give the bears a fight.

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.

William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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