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Chainlink price analysis: LINK/USD to break past the daily resistance found at $17.45

Chainlink Price Analysis

TL;DR Breakdown

  • Chainlink price analysis shows that LINK is in an uptrend
  • LINK/USD prices are facing resistance at $17.45
  • Chainlink prices have set firm support at $16.8

Chainlink price analysis shows that LINK is in an uptrend. LINK/USD prices are facing resistance at $17.45, but have set firm support at $16.8. As long as the price does not break below this support level, the uptrend is likely to continue. Traders should watch for a breakout above the resistance level to determine the next likely direction of the price.

Chainlink is a decentralized oracle network that allows for smart contracts to access external data feeds and resources. As such, it has become a key player in the blockchain space and has seen significant growth in price over the past year.

The current trend appears to be bullish, with LINK/USD prices trading above the $16.8 support level. A breakout above the $17.45 resistance level could see prices move higher, potentially reaching the $20 mark. Conversely, a break below the $16.8 support level could see a reversal in trend and a drop in prices to below $15.00.

Chainlink is a decentralized oracle network that allows for smart contracts to access external data feeds and resources. As such, it has become a key player in the blockchain space and has seen significant growth in price over the past year.

The current trend appears to be bullish, with LINK/USD prices trading above the $16.8 support level. A breakout above the $17.45 resistance level could see prices move higher, potentially reaching the $20 mark. Conversely, a break below the $16.8 support level could see a reversal in trend and a drop in prices to below $15.00.

LINK/USD prices are facing resistance at $17.45, but have set firm support at $16.8. As long as the price does not break below this support level, the uptrend is likely to continue.

Chainlink price action on a 1-day price chart: Bulls dominate the market

The LINK/USD pair is in an uptrend as shown by the one-day price chart. The support line is at $16.8, with the resistance line at $17.45. With an RSI of 54 and a MACD signal that the market has a strong bullish momentum, the bulls seem to have the upper hand. The target for the bulls would be to break past the resistance line and head towards $20.

Chainlink price analysis: LINK prices revisit $17.1, a bullish trend to follow? 2LINK/USD 1-day price chart, source: TradingView

The LINK/USD pair is in an uptrend as shown by the one-day price chart. The support line is at $16.8, with the resistance line at $17.45. With an RSI of 54 and a MACD signal that the market has a strong bullish momentum, the bulls seem to have the upper hand. The target for the bulls would be to break past the resistance line and head towards $20.

LINK/USD is currently in an uptrend as shown by the one-day price chart. The support line is at $16.8, with the resistance line at $17.45. With an RSI of 54 and a MACD signal that the market has a strong bullish momentum, the bulls seem to have the upper hand. The target for the bulls would be to break past the resistance line and head towards $20.00.

Chainlink price analysis on a 4-hour chart: Recent price developments

The 4-hour price chart for LINK/USD shows that the market is in an uptrend, with the support line at $16.8 and the resistance line at $17.45. The RSI is at 54, indicating a healthy market with good bullish momentum. If the resistance line is broken, LINK/USD could rise to $19.5.

Chainlink price analysis: LINK prices revisit $17.1, a bullish trend to follow? 3LINK/USD 4-hour price chart, source: TradingView

The prices are currently facing resistance at $17.45, which if broken could push the prices up to $19.5. The support line is at $16.8, with a potential fall to $15.6 if the resistance is not broken. The 50 EMA line is also above the 200 EMA line, indicating that the bullish momentum is still in effect. The market volatility for Chainlink is on the rise as the Bollinger bands are starting to widen, with the upper band stretching towards the resistance levels.

Chainlink price analysis Conclusion

According to Chainlink, LINK is in an upswing, with prices approaching resistance at $17.45. The bullish trend is still likely to continue as market sentiment becomes more optimistic. The overall market sentiment has become more optimistic as seen by the indicators on the 1-day and 4-hour price charts, which are leaning bullish.

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.
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Mary Brenda

Mary Brenda

I'm a content marketer with interests in emerging niche including Blockchain, Cryptocurrency, Esports, Video games and other tech. I've previous worked with a variety of clients, such as ASUS ROG, BitcoinBink, ESL India, OMEN by HP, Red Bull and more.

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