Home
News
- 1 Chainlink price prediction showcases the long term consolidation phase of LINK crypto.
- 2 LINK crypto is trading above 20, 50 and 100 DMA to reach 200-days daily moving averages.
- 3 Chainlink cryptocurrency gained around 20.47% year to date.
Chainlink price prediction highlights that LINK crypto is caged inside a horizontal price range since May 2022. Now LINK crypto needs to showcase a bigger move in order to recover from the long term consolidation phase. Meanwhile, LINK crypto price tried to break out from the horizontal range-bound area but failed each time. Chainlink cryptocurrency needs to accumulate a significant amount of buyers for LINK crypto to reach the upper threshold.
Chainlink price was $6.73040000 and gained slightly around 0.69% of its market capitalization during the day’s trading session. Trading volume has also increased slightly around 0.22% intraday which demonstrates that buyers are trying to accumulate to push LINK crypto price upwards.
Will Chainlink Price Register Breakout?
Chainlink price prediction showcases the struggle of LINK crypto inside the long term consolidation phase over the daily time frame chart. Volume change is below average and needs to grow in favor of buyers during the intraday trading session. Meanwhile, LINK crypto is trying to sustain at 200-DMA to reach the 20, 50, and 100-days daily moving averages. Chainlink price has been consolidating inside the horizontal price range of $5.39335000 and $9.54653164.
Chainlink cryptocurrency gained around 9.24% in a week, and 9.86% in a month. Moreover, LINK crypto significantly increased in the last three months by 10.61% but fell around 4.95% in the last six months. Nevertheless, LINK crypto managed to gain around 20.47% year to date suggesting that LINK could recover max this year.
Technical indicators highlight the uptrend in the Chainlink cryptocurrency inside the long term consolidation phase. Relative strength index (RSI) and moving average convergence divergence (MACD) both confirm the recovery inside the horizontal range.
RSI was at 59 and is heading towards the overbought territory. The MACD line is above the signal line inside the positive zone after a positive crossover. Investors in Chainlink cryptocurrency need to wait till LINK crypto reaches the upper threshold.
Summary
Chainlink price prediction highlights that LINK crypto has been caged inside a horizontal price range since May 2022. Volume change is below average and needs to grow in favor of buyers intraday. Nevertheless, LINK crypto managed to gain around 20.47% year to date. Technical indicators highlight the upside trend of Chainlink cryptocurrency inside the long term consolidation phase. Investors in Chainlink cryptocurrency need to wait until LINK crypto reaches the upper threshold.
Technical Levels
Support Levels: $6.55951696 and $6.35748256
Resistance Levels: $7.05449878 and $7.45856558
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 or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
