- Chainlink price has formed a bullish pattern on the daily chart. Meanwhile, it has seen a gain of 8.58% in the intraday session.
- Technical Indicators hint at a bullish move for the LINK price. In contrast, the LINK/BTC pair is on bullish momentum.
Chainlink’s price is currently at $52.39, with a gain of 8.70%. It has seen a gain of more than 300% in three months. Link price has an ROI of 2330%, which is one of its significant points. LINK price is currently seeing a bullish momentum, and it can last for more than a month. LINK/BTC pair is also seeing bullish momentum, and it can see a breakout from the resistance in upcoming days.
Chainlink is at 11th in the cryptoverse with a market capitalization of $21,827,195,865.17. The coin’s volume has also seen an increase of 64% in the daily time frame. The volume to market capitalization ratio of the coin is 0.1522. If it goes above 0.8, then a buying rush can be seen.
Technical Indicators Suggest A Bullish Move For LINK Price
Chainlink price highlights a bullish move on the daily chart. On the daily chart, LINK seeing a temporary stop on the bullish momentum. Resistance for the coin while going upside can be observed at $60. It can observe a bounce back on the downside from $40. LINK price is trading above 50 and 100 Daily Moving Average. The 50MA (RED) line is at $36.79, making it support for the coin. In the daily time frame, the coin has given a breakout from the accumulation zone. The price can see a strong bullish rally up to $70 from this point. LINK/BTC pairs can also break out the resistance and see a bullish momentum.
RSI (Bullish): It is currently trailing at 70.63, showcasing its presence in the overbought zone. There is a positive slope formation in the RSI, highlighting a positive sentiment for the price. LINK price may correct itself before going upwards as per RSI.
Conclusion
LINK price is in an overbought zone, and you can see a small correction before a big bull rally. It can even rise to the $100 mark in upcoming months. Investors should do their due diligence before investing.
Technical Levels
Major Support:$40
Major Resistance:$60
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.