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Chainlink price analysis: Bullish breakout pushes LINK/USD past $14.9

link

TL;DR Breakdown

  • Chainlink price analysis shows a bullish trend for today
  • LINK/USD resistance level present at $14.60
  • The market looks bullish as LINK prices reach new all-time highs
Chainlink price analysis: Bullish breakout pushes LINK/USD past $14.9 1
Cryptocurrencies prices heatmap, source: TradingView

Chainlink price analysis shows a bullish trend as the prices opened the daily market chart with an increase of 5.32 percent. The LINK price is $14.52, at the moment of writing, and the market capitalization is $5,627,129,561. The 24-hour trading volume is $3,974,427,716.A breakout at this resistance level could see a continuation of the bullish trend, with prices reaching new all-time highs. On the other hand, a rejection at this level could see prices retrace to the $13.90 support level. The bullish momentum is likely to continue as long as prices hold above the $14.50 levels. On the downside, support can be expected at $13.50 and $12.50 levels.

The LINK/USD pair had a great day as it surged from an opening price of $13.70 to close at $14.52 levels. Chainlink has been one of the best-performing assets in the past month with an astounding increase of over 190 percent. The LINK/USD price has been on an uptrend for the past three days and is currently testing the resistance level at $14.52.

Chainlink price action on a 1-day price chart: LINK prices eying to break higher

The LINK/USD on the 1-day price chart is in a bullish trend as it has been for the past few days. The prices have tested the $14.52 resistance level and are currently retracing. A breakout at this level would see prices push higher to test the next resistance levels present at $15.50 and $16. The market looks bullish as the RSI indicator is in the overbought region. However, a rejection at this level could see prices retrace to the $13.90 and $13.50 support levels. The market volatility is high as shown by the Bollinger Bands.

Chainlink price analysis: Bullish breakout pushes LINK/USD past $14.9 2
LINK/USD 4-hour price chart, source: TradingView

The technical indicators on the 1-day price chart signal a buy for the LINK/USD pair. The MACD indicator is in the positive territory and is bullish. The RSI indicator is in the overbought region but has not signaled a sell yet. The Stochastic indicator is also in the overbought region but has not given a sell signal yet. Chainlink price analysis shows that the bulls have broken out and pushed LINK prices to $14.52 levels.

Chainlink price action on a 4-hour price chart: LINK/USD testing the key resistance level

The LINK price is trading in a bullish trend on the 4-hour price chart. The prices are currently testing the key resistance level at $14.52. A breakout at this level would see prices reach new all-time highs. The RSI indicator is in the overbought region, which suggests that a retrace is due to happen soon.

The MACD indicator is also in the bullish region, which indicates that the bulls are in control of the market. The EMAs are also bullish as the 12 EMA is above the 26 EMA, indicating that the path of least resistance is to the upside. The Bollinger Bands are also widening, which shows that the market is becoming more volatile. The support levels can be found at $14.00 and $13.50.

Chainlink price analysis: Bullish breakout pushes LINK/USD past $14.9 3
LINK/USD 4-hour price chart, source: TradingView

The bulls have broken out of the consolidation phase and have pushed LINK prices to new all-time highs. A breakout at this resistance level could see a continuation of the bullish trend, with prices reaching new all-time highs. On the other hand, a rejection at this level could see prices retrace to the $13.90 support level. The bullish momentum is likely to continue as long as prices hold above the $14.50 levels. The key resistance level to watch out for is $14.60.

Chainlink price analysis conclusion

Chainlink prices are in a bullish trend as indicated by the technical indicators on the 1-day and 4-hour price charts. The prices are currently testing the key resistance level at $14.52. A breakout at this level would see prices reach new all-time highs. The bullish momentum is likely to continue as long as prices hold above the $14.50 levels. On the downside, support can be expected at $13.50 and $12.50 levels.

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.

John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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