Chainlink (LINK) Price Analysis: Chainlink Claims Sustainability Over $2.00 Mark.

Must Read

German Banks Denied Services to Cryptocurrency Startups

The cryptocurrency startups in the country faced denial of services from the banks after German banks permission to...

BitFinex Exchange Unveils Its Entry Into The Staking Market

Bitfinex cryptocurrency exchange announced about its entry into the staking market. Users of platform can earn up...

Matic Network Unlocks 100% of Team & Foundation Tokens

Exclusive news is rolling from a popular project that launched its Initial Exchange Offering (IEO) on Binance Platform,...
Capture1
Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • Chainlink showed a significant positive momentum in today’s market with 4.12% growth.
  • The cryptoasset has also reclaimed the crucial mark of $2.00 indicating future bullish movement.

price

Advertisement


Source: Coin360

On the 7day-weekly chart, Chainlink started with the critical level of $1.90 and the overall bearish movement in the market has brought the price of the altcoin into major critical points.

The cryptoasset went down to the lowest of $1.70 where it found major support and now the price level is back again to a safe spot of $2.00

From here on, chainlink can sustain the price mark of $2.00 and build on bullish momentum to the level of $3.00. However, it will be facing a minor resistance of $2.70 in the price growth process.

As of now, chainlink is now having a strong support level of $2.00. Any price fall below the price mark will again result in a major downfall for the altcoin.

Chainlink Technical Analysis 

link analysis
Source: Tradingview

The technical graph reflects the heavy downtrend faced by chainlink which forced a huge drop from the price level of $4.00 to the level of $1.70.

The MACD levels are reaching a bearish zone which is a negative sign for the chainlink. This means that LINK bears are hitting more impact.

The 24hr- RSI is showing downtrend nature with the level of 40. Any further downfall below the level of 40 will invite bears into play again

The 24hr-CCI had a negative divergence from the overbought region and is unable to sustain it in the normal zone. It has reached the oversold region and the downtrending nature means that it is planning to stay in the region.

Resistance level: $2.50 and $2.70
Support level: $2.00 and $1.70

Hot News

German Banks Denied Services to Cryptocurrency Startups

The cryptocurrency startups in the country faced denial of services from the banks after German banks permission to make transactions with Bitcoin has...

BitFinex Exchange Unveils Its Entry Into The Staking Market

Bitfinex cryptocurrency exchange announced about its entry into the staking market. Users of platform can earn up to 10% per annum by...

Matic Network Unlocks 100% of Team & Foundation Tokens

Exclusive news is rolling from a popular project that launched its Initial Exchange Offering (IEO) on Binance Platform, Matic's second token unlock is...

Ethereum Classic’s Pheonix Upgrade to Activate on MainNet this June

Ethereum Classic is working on another network upgrade, Phoenix (ECIP-1088). The phoenix, Ethereum Classic upgrade (ECIP-1088), which was successfully activated on the Mordor on March 9,...

Russian Police Detained Two Suspects of Embezzlement of Funds in Cryptocurrency

  The Russian Police imprisoned two suspects of stealing money from bank cards. This operation was preceded by the Ministry of Internal Affairs of...

Bitcoin Pizza : A Remarkable Story of the Buying of 2 Pizzas that changed the History for Bitcoin

The first ever real world transaction of bitcoin is said to be 10 years old now, the story of buying of 2 pizzas...

Partners

BitFinex Exchange Unveils Its Entry Into The Staking Market

Bitfinex cryptocurrency exchange announced about its entry into the staking market. Users of platform can earn up to 10% per annum by...

Matic Network Unlocks 100% of Team & Foundation Tokens

Exclusive news is rolling from a popular project that launched its Initial Exchange Offering (IEO) on Binance Platform, Matic's second token unlock is...

Ethereum Classic’s Pheonix Upgrade to Activate on MainNet this June

Ethereum Classic is working on another network upgrade, Phoenix (ECIP-1088). The phoenix, Ethereum Classic upgrade (ECIP-1088), which was successfully activated on the Mordor on March 9,...

Russian Police Detained Two Suspects of Embezzlement of Funds in Cryptocurrency

  The Russian Police imprisoned two suspects of stealing money from bank cards. This operation was preceded by the Ministry of Internal Affairs of...

RELATED NEWS

German Banks Denied Services to Cryptocurrency Startups

The cryptocurrency startups in the country faced denial of services from the banks...

BitFinex Exchange Unveils Its Entry Into The Staking Market

Bitfinex cryptocurrency exchange announced about its entry into the staking market. Users...

Matic Network Unlocks 100% of Team & Foundation Tokens

Exclusive news is rolling from a popular project that launched its Initial Exchange...