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Chainlink (LINK)

Charted: Chainlink (LINK) Looks Ready For Another Leg Higher Over $15

Chainlink (LINK) remained steady above the $11.50 help and began a recent enhance, just like bitcoin. The worth is now buying and selling above $13.50 and it might proceed to rise above $15.00.

  • Chainlink token worth regained traction and climbed above $13.00 in opposition to the US greenback.
  • The worth is now buying and selling above $13.50 and settled above the 100 easy transferring common (4-hours).
  • There is a key bullish pattern line forming with help close to $13.50 on the 4-hours chart of the LINK/USD pair (knowledge supply from Kraken).
  • The worth is prone to proceed larger above the $14.50 and $15.00 resistance ranges.

Chainlink (LINK) Is Gaining Momentum

This previous week, we noticed a pointy draw back correction in bitcoin, Ethereum, ripple, bitcoin money, chainlink (LINK), and different main altcoins. LINK worth dived from nicely above $15.50 and declined under the $13.50 help.

There was additionally a break under the $12.40 help and the 100 easy transferring common (4-hours). Finally, the bulls have been capable of shield the $11.50 help zone. A low was shaped close to $11.29 and the value began a recent enhance above $12.00.

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There was a break above the $13.00 resistance and the 100 easy transferring common (4-hours). LINK worth surpassed the 50% Fib retracement stage of the draw back correction from the $16.43 swing excessive to $11.29 swing low.

Source: LINKUSD on TradingView.com

The worth is now buying and selling properly above the $13.85 resistance. There can also be a key bullish pattern line forming with help close to $13.50 on the 4-hours chart of the LINK/USD pair. On the upside, the bulls are prone to face hurdles close to the $14.50 stage.

The 61.8% Fib retracement stage of the draw back correction from the $16.43 swing excessive to $11.29 swing low can also be at $14.50 to forestall features. A transparent break above $14.50 might open the doorways for extra features above $15.00 and $15.20.

Downsides Limited?

An preliminary help for chainlink’s worth is close to the $13.65 and $13.55 ranges. The first main help is forming close to the $13.50 stage and the pattern line.

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If there’s a draw back break and shut under the $13.50 help zone, there’s a threat of a bearish transfer in direction of the $13.00 help stage and even in direction of the $12.50 stage.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is now shedding momentum within the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is at present nicely above the 50 stage.

Major Support Levels – $13.65, $13.50 and $13.00.

Major Resistance Levels – $14.50, $15.00 and $15.50.

EditorialTeam

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