Bitcoin
$ 30,492.00 1.50%
Ethereum
$ 2,072.66 2.54%
Solana
$ 53.86 4.59%
Dogecoin
$ 0.087837 1.36%
ApeCoin
$ 8.37 4.48%
STEPN
$ 1.51 7.81%
Terra
$ 0.000184 1.19%

Chainlink price analysis: Price continues soaring as LINK reclaims $16.2

Chainlink price analysis Price continues soaring as LINK reclaims

TL;DR Breakdown

  • Chainlink price analysis is bullish.
  • The price soared up to $16.2.
  • Support for LINK is present at $15.4.

Today’s Chainlink price analysis shows a continuation of the bullish trend as prices increased today. The market has maintained a bullish momentum for the past two weeks, and the price has undergone a significant improvement. There have been a few days of healthy corrections, but the trend line has mostly remained in the upwards direction.

Bulls have recovered price up to $16.2 following a four-day long rally that began after a correction that lasted two days. This trend persisted today. Despite the price breaking downwards and bears influencing the price function at the start of the trading session, the bulls returned and captured the market in the last few hours and took the LINK/USD value up to $16.2.

LINK/USD 1-day price chart: Bullish drive takes the price up to $16.2

The 1-day price chart for Chainlink price analysis shows the bulls have controlled the price action for most of the week, and the LINK/USD price value has been recovered above $16.2. A rise in price has been recorded during the last 24 hours as well, as the bulls maintained their dominance. The increasing trend is expected to intensify further in the coming hours as well. The moving average indicator in the one-day price chart is also at the $15.1 position.

Chainlink price analysis: Price continues soaring as LINK reclaims $16.2 1
LINK/USD 1-day price chart. Source: TradingView

The increasing volatility is indicative of future trends. It can be a reliable indicator for more future uptrends, with the next resistance present at the $17.1 mark. The Bollinger Bands indicator is showing its upper value at $16.2, representing the support as the price is trading above the upper band, while its lower value is $12.0. The Relative Strength Index (RSI) score moved up to index 61 because of the upwards trend.

Chainlink price analysis: Recent developments and further technical indications

The Chainlink price analysis shows the price has enjoyed a continuous improvement in the past 12 hours, as the buying momentum intensifies. The buyers seem to be more active in the market as the price has increased further in the last four hours. Due to this, the price has increased to $16.2 at the time of writing. The price has even stepped above the upper limit of the volatility indicator, and the MA value has also moved up to $15.7 on the four-hour chart.

Chainlink price analysis: Price continues soaring as LINK reclaims $16.2 2
LINK/USD 4-hours price chart. Source: TradingView

The SMA 20 is trading above the SMA 50 due to the bullish trend of the last two weeks. If we consider the Bollinger Bands values, then its upper value is present at $16.2, just below the price level, and its lower value is at the $14.7 level. The RSI curve shows an upwards movement, and the score has been increased to 66 after the recent bullish activity. The RSI level is increasing slowly but gradually.

Chainlink price analysis conclusion

The 1-day and 4-hours Chainlink price analysis shows that the price has undergone a major improvement today. The price has increased up to $16.2 after the continuous bullish efforts of active buyers. Although the bears tried to retake the initiative earlier today, overall control remains in the hands of the buyers as the market has started to show positive indications for LINK.

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.

Related News

Hot Stories

Ethereum wipes out $8.10B while eagerly awaiting 'The Merge'
Crypto exchanges are relisting LUNA after the crash
Shiba Inu price analysis: SHIB shows bullish potential at $0.00001196
Michael Saylor says market crash will benefit Bitcoin
Bitcoin price analysis: BTC rejects upside at $30,000, another drop overnight?

Follow Us

Industry News

BTC Pizza Day is celebrated amid crypto crash
CV VC launches Africa-focused blockchain fund
SWIFT announces plans to test CBDCs interoperability
Terra admits to facing technical issues in resuming LUNA and UST transfer 
Michael Saylor says market crash will benefit Bitcoin