• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Chainlink (LINK)
Nexo Logo

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

Aayush Jindal by Aayush Jindal
1 year ago
in LINK
Reading Time: 2 mins read
Advertisement

Chainlink (LINK) traded to a new yearly high near $27.00 before correcting lower, similar to bitcoin and Ethereum. The price is now holding a major support at $24.00 and the 100 SMA (H4).

  • Chainlink token price started a downside correction from the $27.03 high against the US dollar.
  • The price is well bid above the $24.00 level and the 100 simple moving average (4-hours).
  • There is a key bullish trend line forming with support near $23.85 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
  • The price is showing positive signs and it could start a fresh increase towards the $27.00 level.

Chainlink (LINK) Remains Well Supported

After a close above $25.00, chainlink (LINK) extended its upward move against the US Dollar, similar to bitcoin and Ethereum. There was a clear break above the $26.50 level and the price traded to a new high at $27.03.

The price started a downside correction from $27.03 and traded below the $26.00 level. There was a break below the $25.50 support level. The price even spiked below the $24.00 level and traded as low as $22.92.

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

However, the price remained well supported and it recovered above $23.50. LINK price is now trading nicely above the $24.00 level and the 100 simple moving average (4-hours). It already tested the 50% Fib retracement level of the recent decline from the $27.03 high to $22.92 low.

Source: LINKUSD on TradingView.com

There is also a key bullish trend line forming with support near $23.85 on the 4-hours chart of the LINK/USD pair. On the upside, the price is facing resistance near the $25.00 level.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The next major resistance is near the $25.50 level. It is close to the 61.8% Fib retracement level of the recent decline from the $27.03 high to $22.92 low. A clear break above $25.50 may possibly start a fresh increase towards the $27.00 and $28.00 levels.

More Losses?

If chainlink’s price fails to climb above the $25.00 level, there could be a fresh decline. An initial support on the downside is near the $24.00 level and the trend line.

A break below the trend line support might push the price further lower towards $23.00. Any more losses could lead the price towards the $22.00 level.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is currently close to the 50 level.

Major Support Levels – $24.00, $23.85 and $22.00.

Major Resistance Levels – $25.00, $25.50 and $27.00.

Tags: LINKBTCLINKUSDlinkusdt
Tweet123Share196ShareSend
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) Correcting Gains, Why Dips Remain Attractive

1 year ago
Bitcoin

Massive Bearish Divergence Hints At First Major Chainlink Corrective Phase

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

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

1 year ago
Chainlink (LINK)

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

1 year ago
Bitcoin

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

1 year ago
Chainlink

Chainlink Posts Strong Rebound; Why It Could Soon See a Bullish Trend Shift

1 year ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto To Add The Best Gains To Your Portfolio For Bull Market: Gnox (GNOX), Cronos (CRO) And NEAR Protocol (NEAR)

July 1, 2022

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

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

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 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.