Chainlink (LINK) Price Analysis: Chainlink Price Aims To Break Crucial Level Of 3.00 Indicates Road To Recovery.

• Chainlink showed a significant positive momentum in today’s market with a 1.52% growth.
• The cryptoasset has also reclaimed the crucial mark of $2.80 indicating future bullish movement.

On the 7day-weekly chart, Chainlink coin price started with a safe level of $2.30 and the overall bearish movement in the market has brought the price consolidation scenario for the cryptoasset.

The cryptoasset gradually gained momentum to the price level of $2.60 and now the price level is back again to a safe spot of $2.80.

From here on, chainlink can sustain the price mark of $2.50 and build on bullish momentum to the level of $3.00. However, it will be facing a minor resistance of $2.90 in the price growth process.

As of now, chainlink is now having a strong support level of $2.60. Any price fall below the price mark will again result in a major downfall for the altcoin. 21

Chainlink Technical Analysis

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 have reached bullish zone which is a positive sign for the cryptoasset. The levels also suggest that there can be a condition of bearish cross in the bullish region.

The 24hr- RSI is showing downtrend nature with the level of 70. Any further downfall below the level of 60 will invite bears into play again

The 24hr-CCI had a negative divergence from the overbought region and is able to sustain in the normal zone. However, due to the buying momentum present for the cryptoasset in the market, it may again reach overbought region.  

Resistance level: $3.00
Support level: $2.60

Pratik Chadhokar

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.