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- Chainlink was currently at $7.57 with an increase of 3.81% during the intraday trading session.
- The pair of LINK/BTC is at 0.0002642 BTC with an incline of 1.92% in the last 24 hours.
- The current ChainLink token price is above 20, 50, 100, and 200-Day EMA.
The market trend of Chainlink is currently bullish the coin’s price is moving on the upward curve. It will be very difficult for the Link to live in this market as it is closely following the positive trend. The bulls are working extremely hard to maintain the link price as low as possible. They are fighting hard against the animals. Let’s see who will win: ChainLink the bulls or the bears. The bulls are trying to join the trade.
ChainLink’s present price is approximately $7.57 during the previous 24 hours, ChainLink has inclined by approximately 3.81%, maintaining the bullish pattern. For ChainLink to realize its maximum promise, the bulls must begin to move once more. The LINK can rise roughly up to the primary resistance level of $8.08 as a result of the upward trend. The bullish trend might persist leading the price to reach the secondary resistance of $9.37. If the bears have any courage, they can push through primary support of around $5.46, but if the bearish pattern continues, it will be difficult for investors to live. And the price may reach the secondary support of $3.73. This will be difficult for the whales as well if the bears keep being so busy.
The LINK’s volume has increased by about 33.56%. This indicates that bulls are making an effort to join the market. The volume-to-market capitalization for LINK is 0.1282. The Chainlink is ahead of the Daily moving average of 50,100,200 Days. While LINK is making significant efforts to build upward steam, the bears are experiencing something different.
The Technical Analysis of LINK
The technical indicator shows the following: The Relative Strength Index is getting close to being in the overbought zone. Bulls, on the other hand, are taking advantage and driving the RSI toward the overbought zone. And the bears might try to push the RSI to neutrality. The current RSI is approx 60.40, which is below the average RSI of 47.42. The MACD and MACD signal have intersected giving a positive crossover.
Conclusion
The current market trend of ChainLink is bullish. The bulls are trying hard to maintain the upward trend. Chainlink was currently at $7.57 with an increase of 3.81% during the intraday trading session. The bears must exert extra effort as the volume has also increased. The buyers have also driven the RSI towards the overbought zone.
Technical Levels-
Resistance level- $8.08 and $9.37
Support level- $5.46 and $3.73
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
