ChainLink (LINK) Price Analysis: Chainlink Coin Price Shows Sustainability On $2.00  

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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 is on significant bullish momentum in today’s market with the overall gain of 2.32% in the market.
  • It is planning to surpass $2 mark again and to sustain above the level.

Capture
Source: Coinmarketcap

Chainlink started at a price level of $2.00 in today’s market. It crossed $2.30 mark but the resistance of $2.40 pushed it back again to $2.20. It was expected that the altcoin might fall after going below $2 mark. However, the downfall resulted in the positive movement for chainlink in the crypto market.

 The current price is $2.23 and the market capitalization is of $782,755,714 with 24h volume traded of $278,232,005.

The pairs are also signaling a positive momentum ahead waiting for the altcoin. The LINK/BTC pair is positive by 6.15% with the level of 0.00035656 and LINK/ETH is gaining by 3.91% with the level of 0.01693584 ETH.

Screenshot (142)
Source: Tradingingview

The technical graph reflects on the bearish momentum starting for chainlink for the previous month which was later followed by pricing recovery.

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 $2.00 for a while in upcoming days.

The technical indicators and oscillators somewhat suggest the opposite of chainlink. RSI is in the normal zone but with a negative nature and is at the level of 55 which does not favor the bulls. CCI had negative divergence from the overbought territory which is a positive sign for the altcoin. MACD levels also indicate that there is a strong upcoming bearish movement for the coin due to the bearish cross and heavy selling phase seen on the altcoin.

Resistance Levels: $2.40 and $2.50
Support Levels:  $2.00

 

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