- Chainlink is heading towards $14.5.
- LINK at the time of writing, 17:00 GMT, was $14.1.
- LINK has experienced consistent volatility of bullish action.
At 17:00 GMT, the time of writing, Chainlink(LINK) was operating at $14.1. LINK opened up with the price high of $14.17, a nice leap from yesterday’s closing price of $13.4. LINK is marching with bullish activity to $14.5.
Peering at the one-day overview demonstrates how there can be hope LINK will achieve $14.5 today. The gap before midnight indicated by the candles shows that there was great bullish movement.
The Moving Average Convergence (MACD) indicator demonstrated an increase in bullish activity for LINK from midnight. The MACD indicates that the bullish action continued to increase up until 07:00 GMT.
The bullish activity is not going anywhere because even now, at 17:00 GMT, there is still bullish action. The trend line from 23:00 GMT till now is 13 degrees meaning LINK is on its way to reaching $14.5.
Let us take a look at the one-hour chart to make sure the prediction is plausible.
The one-hour chart demonstrates an incline in the bullish movement between 15:00 GMT and 16:00 GMT. There was a price high of $14.2 at 15:00 GMT, but by 16:00 GMT, there was a price high of $14.4.
Between the times stated before, there is an incline in the density of the MACD by 15:30 GMT suggesting an increase in bullish action.
There was so much bullish action that by 16:00 GMT, the candle operated outside the Bollinger Bands higher price expectation area, meaning LINK far surpassed the price investors expected.
Litecoin is well on its way to reaching $14.4. To further understand why there has been a change for the better for LINK, let’s peek at the chart for the month.
The one-month overview reveals that over the month, there has been mostly bullish action. Looking at the MACD, we can see that it oscillated between red and green, but green appears most, suggesting more bullish action.
Once LINK reached its resistance level of $16.4, there was a lot of bullish action from the 25th of November. Fortunately, from the 27th of November, bullish action emerged again.
The candles are operating outside of the BBs’ upper area, suggesting Chainlink is performing way better than expected and is on track for $14.5. Peaking at recent news events will help us understand why the Chainlink price is rising.
The new news around Chainlink that could be impacting the coin is regarding its reputation. There may now be more appreciation and trust for LINK because the company announced support for the Ethereum project three days ago via a blog.
Chainlink and Ethereum will work together on a community-oriented project, Gitcoin Grants, on the project’s 8th round. Chainlink will go from being a rival of Ethereums to a collaborator.
Usually, Chainlink argues that it can save ETHs problems, and Ethereum has a tremendous Decentralized Finance reputation due to its smart contracts. The two crypto coins working together could prove to be beneficial for both of them.
Investors must have become keener to invest in LINK because of its DeFi prospects, and this must be why it is demonstrating bullish action towards $14.5. Having a look at LINKs volatility will help us understand if we can expect LINK to reach $14.5.
Chainlink price prediction: historical volatility
Looking at the Historical Volatility, it is clear that LINK has had medium-sized waves over the month with moments of higher volatility than others. Towards the end of the month, Chainlink has been relatively consistent, suggesting that we should not be expecting any surprises.
On the 27th of November, the volatility level was 38.6, and it is now 34.3, so it has not changed dramatically, suggesting we can trust the coin will head towards $14.5.