TL;DR Breakdown
- Chainlink price prediction expects a rise to $15.6.
- Strong resistance currently lies at the $14.5 level.
- Strong support currently lies at the $12.5 level.
The Chainlink price prediction by the Trading View analyst Significant Ant shows that the cryptocurrency will move high towards the $15.67 mark up next. On the 12th of January, the price suffered fluctuations near the $15.5 level before slipping below the $14.5 mark.
1-Day Chainlink price analysis
Chainlink price was observed at $14.62 at the time of writing. While Bitcoin BTC made a descending move towards the $30000 mark on the 11th of January, the altcoin market followed suit and the crypto assets saw price corrections as well. On the 12th of January, the cryptocurrencies have seen some price recovery alongside Bitcoin. Chainlink is one of such altcoins, and the LINKUSD pair has been trading above $13.5 through most of the day. The cryptocurrency’s highest price was $15.46, whereas the price stooped to a day’s low of $13.73 on the charts.
The technicals for the trading pair lean towards a buyers’ position for the cryptocurrency. 3 out of the eleven oscillators indicate a bullish signal, while 8 stand neutral. 7 out of thirteen moving averages are in favor of a buy signal, 1 is neutral and 5 are for a sell signal. Overall, the crypto asset’s market is still relatively bullish on the daily.
On the 4h time frame, the lower Bollinger band is acting as the support with the midline as the resistance. The price was recently rejected by the midline and it has currently formed an upward candle. If the price slips above the midline, the $18.36 mark will be the next target, which is where the upper Bollinger band lies. The bands currently depict moderate expansion.
Chainlink price prediction: What is expected?
Trading View analyst Significant Ant drew a Gartley bullish for the LINKUSD pair. The support lies closer to the $13 mark, while the Chainlink price prediction shows a target price of $15.67.
This is a retracement and continuation harmonic pattern, and it is also a bullish indicator. Per the analyst’s Chainlink price prediction, the cryptocurrency rose across the $14 mark, while the target price lies at $15.67 in the short-term. Crucial support for the cryptocurrency is marked near the $11.4 to $11.6 range.
Analyst Neo FX also suggests that traders buy the LINKUSD pair during the recent price dip as this is a good buying opportunity for the LINK/USD traders. Per the Chainlink price prediction, this will be a good year for LINK Hodlers, with a price target that lies above the $32 mark.
Analyst Sawyer highlights long-term ascending support for the weekly charts for the LINK/USD pair. The analyst discussed that the crypto asset got close to its all-time high, but it failed to break towards the upside. The price observed a large price correction near $18.5 and dropped to the $13 mark while it sits above the 21-Week Moving Average.
This might mean that the cryptocurrency is looking to continue upward, as seen in other bullish markets. If the cryptocurrency breaks above its all-time high anytime soon, the analyst expects the price to go parabolic after entering a discovery phase.
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