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Chainlink price analysis: LINK/USD bearish for the next 24 hours

Chainlink Price Analysis

TL;DR Breakdown

  • Chainlink price analysis is bullish today.
  • Price has increased up to $15.
  • Resistance for LINK is present at $15.3.

Today’s Chainlink price analysis is bearish since the price unexpectedly rose after breaking down today. For the previous 16 hours, the price function has been heading up, continually establishing bullish domination. The value of LINK has risen back to $15, and it will soon attempt to break through $15.3, which is a crucial threshold for traders. If the price can surpass this point, it could continue to increase in value. However, if LINK fails to break through $15.3, the next significant support is at $13.8.

Chainlink (LINK) price analysis is bullish today. The value of LINK has risen back to $15 after breaking down and is now attempting to break through the crucial $15.3 resistance point. If it can do so, it could continue to increase in value. However, if it fails to break through $15.3, the next major support is at $13.8. Trading should still be done cautiously as sudden drops can occur without warning.

LINK/USD 1-day price chart: Bulls encountering $15.3 resistance

The analysis above is for informational and educational purposes only. It should not be considered investment or trading advice. You should consult with a financial advisor before investing in any digital asset, as they are extremely volatile and the price could drop significantly in a period f time.

Chainlink price analysis: LINK surges to $15, as bulls mark 3.8 percent gains 1LINK/USD 1-day price chart. Source: TradingView

The volatility of digital assets such as Chainlink makes them unsuitable for most investors. Only those who are comfortable with high risk should consider trading them.

LINK/USD 4-hour chart: Bulls taking control after the breakdown

The 4-hour price chart for LINK/USD shows that the bulls have taken control after the breakdown on SeptembeSince then, the5. The market has been in an up then, with the price rising from $11.50 to $15.

Chainlink price analysis: LINK surges to $15, as bulls mark 3.8 percent gains 2

LINK/USD 4-hours price chart. Source: TradingView

The RSI indicator is currently in the overbought region, which indicates that the bulls are exhausted and a bearish correction could occur soon. The MACD indicator is also in the bullish territory and has recently crossed over, which suggests that the bulls are gaining strength.

The resistance for LINK is present at $15.3, while the support is at $13.8. If the price can break through $15.3, it could continue to increase in value. However, if it fails to do so, it will find support at $13.8.

The Directional Movement Indicator (DMI) is a technical analysis tool that measures the strength of a prevailing trend. The indicator consists of two lines – the blue line is called the “positive” or “up” direction, while the red line is called the “negative” o “down” direction. When the blue line is above the red line, it indicates that the market is in an uptrend, while when the red line is above the blue line, it indicates that the market is in a downtrend.

Chainlink price analysis conclusion

The Chainlink price analysis shows that the bullish momentum has remained strong, but as bulls have held sway for the last 16 hours and the price is currently in a lower range, bulls may be fatigued now that the RSI curve is flattening up on the 4-hour chart. As a result, we anticipate LINK to begin retreating shortly before downgrade:

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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