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Chainlink price analysis: LINK/USD pair set to break past the intraday’s highs of $7

Chainlink price analysis 4 1 1
TL;DR Breakdown
  • Chainlink price analysis shows a bullish trend
  • LINK prices are facing rejection at $6.84
  • Chainlink prices have established support at $6.35

Chainlink price analysis shows that the coin is in a strong uptrend. The LINK prices have surged by over 9 percent in the past 24 hours and are currently trading at $6.82. The coin has faced rejection at $6.84 and found support at $6.35.The bulls have controlled the LINK for the last few hours. The bears could not push the prices below the $6.35 support level. The LINK prices are expected to continue surging soon as the bulls remain in market control. The 24-hour trading volume for the coin is $2.82 billion, and the market capitalization is $404 million.

Chainlink Price Analysis for 1-day: Bulls continue pushing LINK prices higher

Chainlink price analysis for the 1-day reveals that the LINK/USD pair trades between an upper and lower boundary, with the upper boundary at $6.84 and the lower boundary at $6.35.The coin surged to a high of $6.82 after the bears failed to push the prices below the $6.35 support level. The market opened today at $6.75, and the bulls have controlled the market since the opening.

Chainlink price analysis
LINK/USD 1-day price chart, source: TradingView

The LINK/USD price appears to be moving over the price of the Moving Average, which indicates that the market is in a bullish trend. The Relative Strength Index(RSI) for the coin is at 61.11, which indicates that the coin is currently in the overbought zone. The bulls are expected to push the prices higher in the near term as the Moving average convergence divergence (MACD) for the coin is in the bullish zone.

Chainlink price analysis on a 4-hour price chart: LINK/USD prices break above $6.82

The 4-hour Chainlink price analysis shows that chainlink prices have broken out of the descending triangle pattern. The LINK prices have surged above the $6 level and are currently trading at $6.82. The market has made higher highs and higher lows, which indicates that the bulls are in control of the market. The prices have found support at $6.35 and are expected to continue surging higher soon as the bulls remain in market control.

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LINK/USD 4-hour price chart, source: TradingView

The four-hour Chainlink price analysis technical indicators are bullish as the Moving average is above the price, while the coin’s Relative Strength Index(RSI) is above 50. The MACD for the coin is in the bullish zone and is expected to continue rising as the bulls remain in control of the market.

Chainlink price analysis conclusion

Chainlink price analysis reveals the cryptocurrency to follow a strong upwards trend with much more room for bullish activity. The bulls have taken over the market, and the declining trend has been replaced with higher highs and lows. The LINK prices are expected to continue surging as the technical indicators remain bullish. The bulls need to break above the $6.84 level to continue the uptrend, while the bears need to push the prices below $6.35 for a bearish trend reversal.

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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Moses Kimathi

Moses Kimathi

Moses is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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