Chainlink price analysis: LINK/USD retests $15 support with signs of overnight recovery

After a relatively quiet period over the past two months, the Link price has started to recover. The prices have consolidated above $12.5 at the moment, and we can see that the upswing has been short-lived. With the Litecoin blockchain experiencing a busy weekend of activity, we can expect the demand for decentralized applications to increase, and the value of LINK to follow.

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Near the start of 2018, the popular cryptocurrency LINK was hovering in the $10-$12 range before it broke out of that range and retested the $15 price floor. The price recovered slightly above $14 before falling back below $12, and that was the last breakthrough for LINK before it continued consolidating between $10 and $13 since that time. For the past few weeks, the price has been hovering around $12.

The cryptocurrency market has been on a steady uptrend since mid-March and has been consolidating the gains from the recent pullback. It appears as if the market has settled in for the long haul, and we could see some more consolidation in the coming months, especially if the new price trendline is successful.. Read more about chain link crypto price and let us know what you think.

TL;DR Summary

  • As LINK/USD retested the previous $15.1 support, Chainlink price analysis is neutral.
  • There has been a $13.9 rise to $15.0 pricing increase.
  • The next price objective is $16.
  • Although there is a lot of resistance, the bulls haven’t given up yet.
  • The market is anticipated to stay mostly positive tonight and recover much more.

After two days of negative dips, the Chainlink price research today shows a bullish position. The market has a strong probability of recovering to its recent high of July 6th in the next days. However, given on previous patterns, we believe that LINK/USD will reach $16 tomorrow.

Coin360’s cryptocurrency heat map

The market is now negative, as the price of BTC has increased by 6.8%, while the price of Ethereum has increased by 8.61 percent. Over the past day, the prices of DOT, XRP, LTC, and DOGE have all increased.

Chainlink Price AnalysisTradingView’s Chainlink Price Chart

Our Chainlink price research cay-graph also confirms the market’s current negative condition. The price of Chainlink has risen today, reversing much of the negative losses of the previous two days. As a result, today’s net gain was more than the few bullish days seen in the previous week.

Chainlink pricing research is available 24 hours a day, 7 days a week.

Chainlink price analysis: LINK/USD retests $15 support with signs of overnight recovery 2TradingView’s Chainlink Price Chart

After being continuously bullish for many hours, the trend has shifted to a mainly bullish trend in the past several hours. In the past 24 hours, LINK/ADA has traded between $13.9 and $15.0. With the rise in resistance, there is a possibility that the market is about to collapse.

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Link/market ADA’s capitalization is now $6,670,921,741.57, with an 8.09 percent market share. The coin is now on the 15th position. According to Chainlink pricing research, the trading volume increased by 13.63 percent in the past 24 hours.

The RSI is presently at 59, with a nearly flat slope. The market may be regaining stability after several gloomy hours. Chainlink’s price may rise or fall over night, depending on market conditions. However, according to Chainlik price analysis, there is now a significant degree of indecisiveness.

What can we anticipate from Chainlink’s pricing during the next four hours?

Chainlink price analysis: LINK/USD retests $15 support with signs of overnight recovery 3TradingView’s Chainlink Price Chart

Our 4 hour price chart’s RSI readings have nearly reached a steady level of 51.81. As a result, the MACD histograms are still in the green, suggesting that the bulls haven’t given up yet. There is a strong probability that the market will rise overnight.

However, opposition may take over at any time, ultimately exhausting the bulls. Despite the modest gains on the hourly graph, the 4-hours chart shows that the market has been negative for the past 8 hours. It may be as a consequence of day traders selling their shares after a modest gain.

Many traders, however, are likely to hang on to their bets now that Chainlink has hit prior support levels of $15.

Conclusion of the Chainlink Price Analysis

Overall, the Chainlink market is indicating that an increase is on the way. Given the extreme volatility, it is more likely to unfold in stages than than in a sharp bull run. The bulls haven’t given up yet, and prior support has been retested.

Disclaimer: The material on this website is not intended to be trading advice, and.com assumes no responsibility for any investments made as a result of the information on this page. Before making any financial choices, we highly advise doing independent research and/or consulting with a competent expert.

Related Tags

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  • link price prediction 2025
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