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Chainlink Price Analysis: LINK Draining Gains, Will It Hold $14?

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Chainlink Price Analysis: LINK Draining Gains, Will It Hold $14?
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Will LINK Token Reach $20 by the End of 2023?

Chainlink Price Analysis: LINK Draining Gains, Will It Hold $14?
Source: LINK Price Chart By TradingView

On the daily chart, LINK crypto price has showcased a massive upside and climbed over 106%. Moreover, the price action has showcased the buyers’ dominance. LINK token is waiting for a rebound to surpass the swing high of $17.00.

The RSI curve stayed near 60, showing a negative divergence on the chart, suggesting a volatile outlook for the upcoming sessions.

The MACD indicator showed a bearish crossover and formed red bars on the histogram indicating the profit booking scenario in the last sessions.

Weekly Charts Noted Multi Year Breakout

Chainlink Price Analysis: LINK Draining Gains, Will It Hold $14?
Source: LINK Price Chart By TradingView

On the weekly chart, LINK crypto price is witnessing a range breakout surpassing the crucial range of $10 and climbing above neutrality. Moreover, the price action shows the volume spurt and buyers are putting in efforts and gaining traction. 

Summary

Chainlink token price showcased a range breakout and hovered near the 20-day EMA mark to catch the swing high of $20 soon. Moreover, the price action highlights the bullishness.

Technical Levels

Support Levels: $14.00 and $13.50

Resistance Levels: $15.00 and $15.80

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.

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