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- 1 Chainlink price prediction suggests a rise and bulls seem to be returning back.
- 2 LINK price sustained above the 50-day EMA and 200-day EMA.
- 3 Chainlink crypto price defends $10.00 support.
Chainlink price prediction remains bullish till it holds $6.000 support. It suggests a rise in the long run and buyers seem to be returning back to track.
LINK crypto price sustained above the 50-day and 200-day EMA showcases an uptrend. However, the EMAs are sloping sideways indicating prices are likely to consolidate for some more time.
Chainlink price is in recovery mode and rising upward by forming higher high swings. It regains the $7.00 mark and buyers are trying their best to bring back the confidence of investors.
In the mid of June, LINK crypto price took support near $5.00 and showed a bounce from the lower levels. Later, the responsive buyers came forward and managed to push the price above the 50-day EMA.
Meanwhile, the sudden rise in the buying volume is visible and prices also followed the same direction.
In the mid of July, Chainlink’s price shot up 20% in a single day. It attempts to break the $8.00 hurdle to show the dominance of bulls. Sadly, the attempts failed and prices witnessed profit booking.
Will Chainlink Price bounce back from the EMA?
Chainlink price prediction favors the bulls so any short-term downfall will be easily absorbed by the buyers. Chainlink Price is trading at $7.399 with an intraday rise of 1.02%. The 24-hour volume to market cap is 6.44%.
Till the LINK price sustains above $6.00 the probability of bounce back remains high. Moreover, the price will gain momentum when buyers are able to regain the $8.00 mark.
On the other hand, if the price drops below $6.00 then the short-term trend will again turn bearish. The technical analysis suggests that Chainlink’s crypto price is near the crucial support where downside risk is low.
LINK Crypto Price corrected 14%
LINK crypto price corrected 14% approx from the recent swing high. Price retraces to the EMA and correction seem to have taken a halt. If the overall crypto market recovers then it may positively impact the LINK prices.
The MACD generated a negative crossover but the curve is sloping sideways denotes buyers are getting active. The RSI at 53 slopes upward denoting the strength of bulls and more room for upside is open.
Conclusion
Chainlink price prediction suggests a significant rise is possible in the long run. LINK crypto is recovering and more upward momentum is possible. The technical analysis suggests LINK price is near to crucial support and the possibility of a bounce back is high.
Technical levels
- Resistance levels: $9.50 and $10.00
- Support levels: $7.00 and $5.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. 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.
