• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis LINK

Charted: Chainlink (LINK) Looks Ready For Another Leg Higher Over $13

Aayush Jindal by Aayush Jindal
4 months ago
in LINK
Reading Time: 2min read
Chainlink (LINK)
Advertisement

Chainlink (LINK) started a sharp rise from the $10.00 support zone. It traded as high as $13.64, corrected lower, and now it is likely preparing for another leg higher over $13.00.

  • Chainlink token price started a major upward move after it cleared the $11.50 resistance against the US dollar.
  • The price traded as high as $13.64 and settled well above the 100 simple moving average (4-hours).
  • There is a key contracting triangle forming with resistance near $12.70 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
  • The current price action indicates chances of a fresh rally above $12.70 and $13.00.

Chainlink (LINK) Signaling More Upsides

This past week, chainlink (LINK) formed a strong support base near $9.80 and $10.00. The price started a strong upward move (similar to bitcoin) and cleared the $11.00 resistance zone to move into a positive zone.

The bulls gained pace above the $11.50 resistance and the 100 simple moving average (4-hours). There was a break above the $13.00 resistance and the price traded to a new monthly high at $13.64.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Recently, there was a sharp downside correction below the $13.00 and $12.50 levels. The price traded below the 23.6% Fib retracement level of the upward move from the $9.75 swing low to $13.64 high. There was also a spike below $12.00, but the bulls defended the $11.80 support zone.

Chainlink (LINK) Price

Source: LINKUSD on TradingView.com

The 100 simple moving average (4-hours), and the 50% Fib retracement level of the upward move from the $9.75 swing low to $13.64 high are also acting as strong supports.

It seems like there is a key contracting triangle forming with resistance near $12.70 on the 4-hours chart of the LINK/USD pair. If the pair breaks the triangle resistance, it is likely to start a fresh increase above the $13.00 resistance.

The next major resistance is near the $13.50 and $13.65 levels. Any further gains could lead the price towards the $14.00 resistance zone.

Downsides Limited?

An initial support for chainlink’s price is near the triangle lower trend line at $12.00. If there is a downside break below the triangle support, the price could revisit the $11.50 support.

The 100 simple moving average (4-hours) and the $11.50 support are very important. A clear close below $11.50 might push the price towards the $10.50 support zone.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is likely to move back into the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is still well above the 50 level.

Major Support Levels – $12.00, $11.60 and $11.50.

Major Resistance Levels – $12.70, $13.00 and $13.65.

Tags: LINKBTCLINKUSDlinkusdt
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Chainlink (LINK)

Charted: Chainlink (LINK) Steadies above $24, Fresh Increase To $27 Likely

3 weeks ago
Chainlink (LINK)

Charted: Chainlink (LINK) Correcting Gains, Why Dips Remain Attractive

1 month ago
Bitcoin

Massive Bearish Divergence Hints At First Major Chainlink Corrective Phase

1 month ago
Charted: Chainlink (LINK) Holding Uptrend Support, Why It Could Rally Again

Charted: Chainlink (LINK) Holding Uptrend Support, Why It Could Rally Again

1 month ago
Chainlink (LINK)

Charted: Chainlink (LINK) Remains In Strong Uptrend, Why It Could Test $25

1 month ago
Bitcoin

Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20

2 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.