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Chainlink price analysis: Bullish streak paves way for rise above $25

Cryptopolitan


TL;DR Breakdown

  • The latest Chainlink price analysis show the bulls taking the lead again.
  • The price is rising at a slow pace and reached $25.83.
  • Strong support is present at $24 for cryptocurrency.

The Chainlink price analysis is showing encouraging signs for cryptocurrency, as bulls have been able to break past the bearish obstacle. The price levels are rising slowly and they are expected to cross their current price level which is $26 soon.

The resistance at $27 is still far off from being near the current price value, if the bullish momentum intensifies in the next 24-hours, it can be surpassed as well.

LINK/USD 1-day price chart: Bears retrieve their position after bullish comeback

The 1-day price chart showing cryptocurrency values is going slightly bearish today according to the latest updates. The chart shows that the bulls have tried to make a return in the past few days, yet today the bears have succeeded in taking over once again.

The price levels are decreasing and have lowered down to $25.83 for today as per Chainlink price analysis. The Moving Average (MA) is basically the mean of all price values and it is standing right now at $27, slightly above the current price.

LINK/USD 1-day price chart. Source: TradingView

The Bollinger bands are narrowing down as the volatility is supposedly decreasing, and the upper band has reached $29.32 and the lower band has reached the value of $24. The Relative Strength Index ( RSI ) score is on the decreasing side as well and has lowered to 52 in the 1-day price chart.

LINK/USD 4-hour chart: Rise in price expected as bulls restore momentum

The 4-hours Chainlink price analysis is indicating a rise in price as the bullish momentum is taking lead again. The past few hours have been highly favorable for the bulls, as the short-term trending line is showing more green candlesticks.

The price has improved up to $25.83, which is just above the moving average value for the chart that is present at $25.6. The volatility is slowly decreasing, which is a relatively positive sign for cryptocurrency in the future.

Chainlink price analysis: Bullish streak paves way for rise above $25 2
LINK/USD 4-hours price chart. Source: TradingView

The Bollinger bands are important in determining the future of cryptocurrency, and right now the upper band is showing the value of $27 and the lower band is showing $25. The RSI score is also increasing, as the purple graph shows, and the score has finally reached 49 which is far better than the previous days.

Chainlink price analysis: Bullish streak paves way for rise above $25 3
LINK/USD technical indicators chart. Source: TradingView

The LINK/USD technical indicators chart is showing us a buying signal for the day as the most recent updates show bullish momentum building up. There are a total of 26 indicators present in the chart out of which 10 are at the buying position, nine at the neutral, and seven are at the selling position.

The Moving Averages indicators are also showing a bullish signal, as the market has proved favorable for the bulls today. There are eight indicators that are present on the buying side, six on the selling side while only one indicator is on the neutral side.

The oscillators are going neutral for the day, as the competition has been fierce from both sides, there are eight oscillators at the neutral point, two at buying, and only one at the selling point.

Chainlink price analysis conclusion

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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