Chainlink Price Analysis – April 14
The LINK price is trading inside a long-term resistance area, a breakout above the channel could trigger a rapid increase.
Resistance levels: $44, $46, $48
Support levels: $32, $30, $28
LINK/USD has now resumed the bullish continuation as the buyers gain control of the market. The 12.55% surge in volatility has leveled up trading price at around the $40 resistance level. The coin is seen trading above the 9-day and 21-day moving averages, aiming to break above the upper boundary of the channel.
What to Expect from Chainlink
The Chainlink price has been increasing since March 25. Therefore, traders may see more climbs in the next few days of trading towards the $44, $46, and $48 resistances as the bulls are taking control of the market. On the downside, the 9-day MA at $33.5 could provide support for a possible bearish retracement in case there is a retreat towards the south.
In addition, if the coin drops below the moving averages, it could locate the critical supports at $32, $30, and $28. Meanwhile, as revealed by the technical indicator RSI (14), the current buying pressure is clearly revealed above the 68-level. At the moment, we can say the Chainlink market is following a bullish scenario.
LINK/BTC Market: Bulls Keep Pushing the Price Upward
Against Bitcoin, LINK has been slowly grinding higher. After bottoming out around the 5198 SAT yesterday, the price begins to slowly ascend and it is currently trading around 6362 SAT. The Chainlink price is now contained above the 9-day and 21-day moving averages as traders expect the bulls to hopefully push the market higher while the technical indicator RSI (14) crosses above 60-level upward.
However, if the bulls break above the upper boundary of the channel, traders can expect initial resistance at 6500 SAT. Above this, higher resistance lies at 6800 SAT and above. In other words, if the sellers push the market beneath the moving averages, we can expect critical support at 5200 SAT and below.