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- Chainlink price is currently floating inside consolidation zone with a gain of 1.85%
- Technical indicators suggest a positive move for the LINK/USD pair. Meanwhile, the LINK/BTC pair sees a loss of 0.58%.
Chainlink price is trailing at $28.1, with a gain of 1.85%. On the upward side LINK price will see resistance at $35.2, and on the lower side, Critical support is at the value of $25.0. Chainlink price is trading below 50 and above 100-MA. The 50-MA line is at the value of $28.1, making this a temporary support. LINK price might face a negative crossover on the 50-Moving Average. If the price goes below the 50 and 100-MA, then there will be a strong downtrend up to $20.00 is expected.
Chainlink is currently at 10th rank with a market capitalization of $11,616,329,628. Its volume traded in the last 24-hour has seen a loss of 30.43% in the intraday session.
Technical Indicators Showcases Bulls Gearing Up For ChainLINK Price
ChainLink technical chart indicates a bullish momentum on weekly charts.The daily chart of LINK projects a bullish momentum with a lower strength. Coming to the shorter time frame of the 4-hour chart, the price is inside the filling zone. If the price jumps 10% above the zone, then its next resistance could be $50.00. The LINK/BTC pair is currently at the value of 0.0005016 BTC with a loss of 0.63%. These pairs can see a worthwhile gain in the future.
RSI(Bullish): It is currently trailing at the value of 48.63, showcasing its presence in the overbought zone. There is a positive slope formation in the RSI, highlighting that the price may see a new high before retracing back to the lower levels. The overall sentiment of RSI is positive.
Conclusion
Chainlink has given a great return in the past to its investors. The LINK/BTC pair also performs positive and can see a great return in the upcoming days. The overall technical analysis tells that the price can see an uptrend in upcoming days. Investors should do thorough diligence before investing.
Technical Levels
Major Support:$25
Major Resistance:$31
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
