Follow Us

Chainlink (LINK) Price Analysis: LINK Price Bulls Still Fighting With Resistance Of $3.80

Share on facebook
Share on twitter
Share on linkedin

Share

Smart e1582479268712
Share on facebook
Share on twitter
Share on linkedin
  • Chainlink showed a significant positive momentum in today’s market with 1.50% growth.
  • The cryptoasset has also reclaimed the crucial mark of $3.70 indicating future bullish movement.
Capture
Source: Coinmarketcap

On the 7day-weekly chart, Chainlink started with a safe level of $3.50 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 $3.00 and now the price level is back again to a safe spot of $3.70.

From here on, chainlink can sustain the price mark of $3.50 and build on bullish momentum to the level of $4.00. However, it is facing major resistance of $3.80 in the price growth process.

As of now, chainlink is now having a strong support level of $3.50. Any price fall below the price mark will again result in a major downfall for the altcoin.

Chainlink Technical Analysis 

Screenshot (250)
Source: Tradingview

The technical graph reflects the heavy positive momentum faced by chainlink which forced a giant leap from the price level of $2.00 to the level of $3.70.

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

The 24hr- RSI is showing downtrend nature with the level of 55. Any further downfall below the level of 50 will invite bears into play again

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

Resistance level: $3.80 and $4.00

Support level: $3.50

Leave a Reply

Your email address will not be published. Required fields are marked *

Download our App for getting faster updates at your fingertips.

en_badge_web_generic.b07819ff-300x116-1

We Recommend

Top Rated Cryptocurrency Exchange

-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00