- 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.
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.
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.
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.
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.
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