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ChainLink price analysis: Bullish spell drives LINK prices to $7.32

Chainlink price analysis
TL;DR Breakdown
  • Chainlink price analysis shows a bullish trend
  • Resistance for LINK is present at $7.51
  • Support for LINK/USD is present at $7.16

Chainlink price analysis shows indicates that the LINK/USD pair is currently in a bullish trend. The pair has been trading above the $7.00 level for the past few days and it looks like the bulls are in control. The next resistance for LINK is present at the $7.51 level. This is a crucial level to watch out for as a break above this could see the pair move towards the $8.00 level. On the downside, support for LINK/USD is present at the $7.16 level. This is a key level to watch out for as a break below this level could see the pair fall towards the $7.00 level.

The LINK/USD has increased by over 0.65% in the past 24 hours and it looks like the bulls are in control. The market capitalization has risen to over $3.60 billion and the 24-hour trading volume is over $589 million.

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LINK/USD 4-hour price analysis: Recent updates

The 4-hour Chainlink price analysis shows that the LINK/USD pair has been in a strong uptrend for the last 4-hours. The pair has made higher highs and higher lows, which is a bullish sign. The bulls emerged after the pair found support at the $7.16 level. The Bollinger’s band’s upper limit is widening, which is a sign that the bulls are in control, and the lower limit of Bollinger’s band is flat, which is a sign that the bears are not in control.

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LINK/USD 4-hour price analysis. Source: TradingView

ChainLink price analysis reveals that the Relative Strength Index (RSI) is currently near the overbought levels, which is a sign that the bulls are in control. The Moving Average Convergence Divergence (MACD) indicator shows that the MACD line is above the signal line, which is a bullish sign.

Chainlink Price Analysis for 1-day: LINK moves upwards

Chainlink price analysis on 24-hour charts shows that LINK/USD has regained its bullish momentum, as the market has moved above $7.51. The bulls have been able to push the prices higher as they look to take the price past $7.32. The bears attempt to defend $7.16 and push the prices lower, but so far have been unsuccessful.

image 186
LINK/USD 1-day price chart. Source: TradingView

The upper Bollinger band is at $7.51 and the lower Bollinger band is at $7.16 which indicates that the market is in a bullish trend. The 1-day Relative Strength Index (RSI) is at 52.09 which indicates that the market is currently in the overbought territory. The MACD line blue is above the signal line red which indicates that the market is in a bullish trend.

Chainlink price analysis conclusion

Chainlink price analysis reveals the cryptocurrency follows a complete positive trend with much room for activity on further positivity. Moreover, the market has been showing slight indications for a breakout in the upcoming days. As a result, the trend might be reversed, but the bulls will do everything in their power to maintain their power.

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.

joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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