• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Vechain price prediction

    VeChain price prediction: VET set to move higher again, resistance to break at $0.056

    Ethereum Price Prediction

    Ethereum price prediction: ETH failed to retest $1,500, more upside to follow

    SEC allegations

    John McAfee claims SEC allegations laid against him are exaggerated

    ADA/USD

    ADA/USD Price Prediction: Cardano faces resistance at $1.32 after Mary Hardfork

    Litecoin Price Prediction

    Litecoin Price Prediction: LTC/USD Bullish Amidst Strong Selling Pressure

    Crypto market

    Crypto market: Thailand to set new regulations amid high interest

    XRP/USD Price Prediction

    XRP/USD Price Prediction: Will Ripple(XRP) Retest $0.50 Resistance?

    Bitcoin price movement

    Bitcoin Price Prediction: Bitcoin will remain bullish as long as SMA support is intact

    Bitcoin price analysis Tight price range halts uptrend as $46K support holds

    Bitcoin price analysis: Tight price range halts uptrend as $46K support holds

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Vechain price prediction

    VeChain price prediction: VET set to move higher again, resistance to break at $0.056

    Ethereum Price Prediction

    Ethereum price prediction: ETH failed to retest $1,500, more upside to follow

    SEC allegations

    John McAfee claims SEC allegations laid against him are exaggerated

    ADA/USD

    ADA/USD Price Prediction: Cardano faces resistance at $1.32 after Mary Hardfork

    Litecoin Price Prediction

    Litecoin Price Prediction: LTC/USD Bullish Amidst Strong Selling Pressure

    Crypto market

    Crypto market: Thailand to set new regulations amid high interest

    XRP/USD Price Prediction

    XRP/USD Price Prediction: Will Ripple(XRP) Retest $0.50 Resistance?

    Bitcoin price movement

    Bitcoin Price Prediction: Bitcoin will remain bullish as long as SMA support is intact

    Bitcoin price analysis Tight price range halts uptrend as $46K support holds

    Bitcoin price analysis: Tight price range halts uptrend as $46K support holds

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News ChainLink News

Chainlink price prediction: LINK moves towards $18 support after rejection yesterday

Egils Lapins by Egils Lapins
January 17, 2021
in ChainLink News
4 min read
Chainlink price prediciton
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

TL;DR Breakdown

  •  LINK/USD currently trades around $20. 
  •  After a rejection yesterday, Chainlink continues moving lower.
  •  Strong support still around $18.

Chainlink price prediction for next week is still bearish as the LINK/USD has grown exhausted. LINK currently trades around $20, with a market cap of $8.1 billion. 

Chainlink price prediction: LINK moves towards $18 support after rejection yesterday 1

Cryptocurrency heat map by Coin360

RelatedPosts

Cardano price prediction: ADA to fall to $0.800

LINK Price Prediction: Chainlink at risk of plummeting under $20 mark

Chainlink price prediction: LINK falls to $25, what’s next for the hexagon?

Chainlink price prediction: LINK to climb to $40 after brief correction to $32.5

Chainlink Price Prediction: LINK 

Chainlink opened at $20.11 today after a clear rejection for further upside. LINK/USD has not moved far from the open, as a minor consolidation of around $20-$21 still holds the price. 

The Analyst still believes that LINK/USD will reach $18 support in the upcoming week. As described in yesterday’s Chainlink price prediction, the $18 level should provide a lot of support as there are several technical confluences around it. The 50 percent Fibonacci retracement level is also located just below, and the 50 period moving average red line is still moving towards this level.

If the $18 support level cannot hold, Chainlink should see a retracement towards $15 in the upcoming weeks. The 15$ support is also a key level to watch as it has acted both as a support and resistance. 

Chainlink price movement in the last 24 hours

During the past 24 hours, LINK has lost 6 percent, with a volume of $4.8 billion. Chainlink continued to range after the open as it likely prepares for further downside. Yesterday, several rejection candles were formed and confirmed. Therefore, the current short-term bearish momentum was expected.

Chainlink price prediction: LINK moves towards $18 support after rejection yesterday 2

Chainlink price chart by TradingView

LINK/USD 4-hour chart – Chainlink currently moving lower

As mentioned, Chainlink has had a very strong week overall. However, when looking at the 4-hour chart, a slow but sure retracement is seen from the current yearly high of $23.1.

The target to watch for right now is the $18 support. Until LINK retests the $18 support level, traders should stay on the sidelines and wait for further price action development. The risk of entering another long position would not outweigh the reward as Chainlink has already gained more than 80 percent since the 11th of January.

As the momentum for Chainlink has slowed down, the Analyst expects no further trading opportunity next week. Most likely, LINK will spend several days in a slow retracement.

Another technical level to watch is the several week ascending trend line. It has supported the LINK/USD mid-term trend several times. Chainlink had a strong rejection from the trendline on the 11th and 12th of January. Therefore, we can expect this to continue. This would also mean that Chainlink will spend the upcoming weeks in a retracement as the trendline is relatively far away from the current price action.

Another move higher is still a strong possibility. As mentioned, it is not worth chasing the final push to the upside as the risk/reward is not encouraging.

Chainlink Price Prediction: conclusion – further price action needed

The price prediction for Chainlink is still the same – traders should stay on the sideline and see how the price action develops.

A key support area to watch are the $18 and $15 as both of them have previously reversed LINK in a clear way. The best entry would be from the $15 support as it would offer the best risk/reward. However, if the level breaks, a larger reversal will likely be seen over the coming weeks.

If LINK/USD can show clear signs of reversal around the $18 support area, a long position could be made from there. However, it would be best not to rush into a position around this area. The best would be to wait for a consolidation around it, which would allow the moving averages to catch up and offer additional support.

Additionally, check out our Chainlink price index section as it offers a real-time chart, price details, sentiment analysis, and signals.

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.

Tags: chainlink
Egils Lapins

Egils Lapins

Egils is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance. He loves to write, listen to music, and ride motorcycles in his free time.

Related Posts

Cardano price
ChainLink News

Cardano price prediction: ADA to fall to $0.800

March 5, 2021
LINK price prediction
ChainLink News

LINK Price Prediction: Chainlink at risk of plummeting under $20 mark

March 5, 2021
Chainlink price
ChainLink News

Chainlink price prediction: LINK falls to $25, what’s next for the hexagon?

February 24, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

How Bexplus Apps Make Trading Crypto Futures Easier 3

How Bexplus Apps Make Trading Crypto Futures Easier

March 6, 2021
EIP-1559

EIP-1559 get the nod for Ethereum’s London Hardfork

March 6, 2021
Vechain price prediction

VeChain price prediction: VET set to move higher again, resistance to break at $0.056

March 6, 2021
Ethereum Price Prediction

Ethereum price prediction: ETH failed to retest $1,500, more upside to follow

March 6, 2021
SEC allegations

John McAfee claims SEC allegations laid against him are exaggerated

March 6, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 4

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.