Chainlink (LINK) Breaks Critical Resistance: This Level is Crucial for the Continued Rise of LINK Coin!

• ChainLink is in a short-term uptrend channel, indicating that investors have been buying LINK coins at higher prices over time.
• A significant break at the 6.75 level will give new negative signals for LINK, but breaking the opposite side of the formation will be a strong positive signal.
• The volume balance is also positive, which strengthens the coin and increases the likelihood of an upward breakout. LINK is generally considered technically positive for the long term.

In our current ChainLink (LINK) analysis, we’ve evaluated the short, medium, and long-term views: These resistances are crucial for the continuation of the uptrend!

Short-Term LINK Analysis

ChainLink is in a short-term uptrend channel, indicating that investors have been buying LINK coins at higher prices over time, which is a positive development for LINK. LINK has slightly broken the resistance at 7.15 points. This breakout predicts further uptrend. The volume balance is positive, which strengthens the currency in the short term. RSI is above 70 after a good price increase in recent weeks. LINK shows strong positive momentum, indicating further gains. However, a high RSI, especially for large assets, can be a sign that the stock is overbought and may have a downward reaction. LINK is generally considered technically positive for the short term.

Medium-Term LINK Analysis

ChainLink is in a roughly horizontal trend channel in the medium to long term, indicating that investors are uncertain and waiting for signals about future directions. A breakout to the upside will be a positive signal, while a breakout to the downside will be negative. The price has retraced without reaching the target after breaking the rectangle formation.

A significant break at the 6.75 level will give new negative signals for LINK, but breaking the opposite side of the formation will be a strong positive signal. LINK has slightly broken the resistance at 7.16 points. This breakout predicts further uptrend. Volume peaks and troughs align well with price highs and lows. The volume balance is also positive, which strengthens LINK and increases the likelihood of an upward breakout. LINK is generally considered technically positive for the medium term.

Long-Term LINK Analysis

ChainLink is in a roughly horizontal trend channel in the long term, indicating that investors are uncertain and waiting for signals about future directions. A breakout to the upside will be a positive signal, while a breakout to the downside will be negative. LINK is in a rectangular formation between the support level at 4.83 and the resistance level at 8.04. A clear break of either of these levels will indicate a new direction for the currency.

LINK is located between the support level at 5.80 and the resistance level at 8.50. A clear break of these levels will indicate a new direction. Volume has been high at price peaks and low at bottom levels. The volume balance is also positive, which strengthens the coin and increases the likelihood of an upward breakout. LINK is generally considered technically positive for the long term.

Chainlink (LINK) Price

Today’s Chainlink price is $7.39 USD with a 24-hour trading volume of $229,609,772 USD. Chainlink has increased by 4% in the last 24 hours. Its current CoinMarketCap ranking is 19th with a live market cap of $4,113,626,859 USD. It has a circulating supply of 556,849,970 LINK coins and a maximum supply of 1,000,000,000 LINK coins.

Summary

ChainLink (LINK) analysis evaluates short, medium, and long-term views. The short-term analysis indicates that LINK is generally positive from a technical perspective. The medium-term analysis shows uncertainty and investors waiting for future direction. The long-term analysis reflects a similar level of uncertainty. These analyses can help LINK investors understand possible future price movements.