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- Chainlink is on significant bullish momentum in today’s market with an overall gain of 4.32% in the market.
- It is planning to surpass $4 mark again and to sustain above the level.
Chainlink started at a price level of $3.90 in today’s market. It crossed $4 mark but the resistance of $4.10 pushed it back again to $3.90. It was expected that the altcoin might fall after going below $4 mark. However, the downfall resulted in the positive movement for chainlink in the crypto market.
The current price is $3.85 and the market capitalization is of $1,348,755,714 with 24h volume traded of $457,232,005.
Chainlink has also been witnessing fundamental growth also. It is getting more popular on social media and the engagement established by the community is appreciable with a short span of time.
It has also seen a large growth in the number of addresses which grew 4,300 addresses in the last week. These all positive sides indicate that Chainlink still in competition with Tezos for 10th place in the list of world’s largest cryptocurrencies in the world.
The technical graph reflects on the bullish momentum starting by chainlink from the starting of this month which was later followed by pricing corrections. During its bullish move, it reached a high point of $4.80 which can be a failed attempt to cross the major mark of $5.00.
Afterward, it faced pricing corrections for the past few days in the market but now has turned green. It is expected that this positive momentum will have a suitable long duration for the altcoin helping it to sustain above the level of $4.00 for a while in upcoming days.
The technical indicators and oscillators also suggest that there is an upcoming bullish momentum for chainlink. RSI is in the positive zone and is at the level of 50 which kinda favors link bulls. CCI had negative divergence from the overbought territory which is another positive sign for the altcoin.
MACD levels also indicate that there is a strong upcoming bullish movement for the coin due to the bullish cross and heavy buying phase seen on the altcoin.
Resistance Levels: $4.10 and $4.80
Support Levels: $3.90 and $3.50
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
