• 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
  • Invest BTCTry
  • Join STC ICOBuy
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
  • Invest BTCTry
  • Join STC ICOBuy
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) Near Crucial Juncture, $10.50 Holds The Key

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

Chainlink (LINK) started a downside correction from the $11.80 zone against the US Dollar. The price is now trading near a major breakdown support at $10.60 and $10.50.

  • Chainlink token price is correcting gains from well above the $11.50 level against the US dollar.
  • The price is now testing the $10.60 support and it is well above the 100 simple moving average (4-hours).
  • There is a short-term declining channel or a bullish flag forming with resistance near $10.95 on the 4-hours chart of the LINK/USD pair (data source from Kraken).
  • The pair could rally if there is a clear break above the $10.95 and $11.00 resistance levels.

Chainlink (LINK) Price Rallies 8%

In the past few days, there was a decent rise in chainlink (LINK) above the $10.00 resistance level. The price even broke the $10.50 and $11.00 resistance levels.

Finally, there was a break above the $11.50 resistance and the price settled well above the 100 simple moving average (4-hours). A high was formed near $11.82 and the price recently started a downside correction.

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

There was a break below the $11.20 and $11.00 support levels. The price even declined below the 50% Fib retracement level of the upward move from the $10.07 low to $11.82 high. More importantly, it seems like there is a short-term declining channel or a bullish flag forming with resistance near $10.95 on the 4-hours chart of the LINK/USD pair.

Chainlink (LINK) Price

Source: LINKUSD on TradingView.com

On the downside, there is a crucial support near $10.60 and $10.50. The 61.8% Fib retracement level of the upward move from the $10.07 low to $11.82 high is also near $10.70.

On the upside, the bulls are facing a major hurdle near $10.95 and $11.00. A clear break above the $11.00 resistance level could open the doors for a steady increase in the coming sessions. The next immediate resistance is near the $11.50 level, above which the price could rally towards the $12.00 level.

Downside Break?

If chainlink’s price fails to clear the $11.00 resistance, it could move down further. A downside break below the $10.60 and $10.50 support levels might increase the risk of a sharp decline.

The next major support is near the $10.00 level, below which the price might test the 100 simple moving average (4-hours) or even $9.60.

Technical Indicators

4-hours MACD – The MACD for LINK/USD is still in the bearish zone.

4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is now rising and it is just above the 50 level.

Major Support Levels – $10.60, $10.50 and $10.00.

Major Resistance Levels – $10.95, $11.00 and $11.50.

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

2 months ago
Chainlink (LINK)

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

3 months ago
Bitcoin

Massive Bearish Divergence Hints At First Major Chainlink Corrective Phase

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

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

3 months ago
Chainlink (LINK)

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

3 months ago
Bitcoin

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

3 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

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

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

XRP Triples Within Weeks, Will the Bull Run Continue?

April 17, 2021

User-Friendly Interface Is Key to Wisebitcoin’s Steady Growth

April 16, 2021

Sign up and Get Free $30 Coupon With Nhash Cloud Mining Services

April 15, 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
  • Invest BTC
  • Join STC ICO

© 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.