spot_imgspot_imgspot_img

Can Chainlink (LINK) Rise to $9? August 9th LINK Analysis

  • When examining the technical chart of LINK in the 3-hour time frame, an upward trend can be observed.
  • Closing prices above the $7.64 level support the continuation of the uptrend, while closing prices below it can strengthen the downward trend.
  • The nearest resistance level is determined as $8.20. If this resistance is surpassed, the target of $8.77 will come to the forefront.

The technical analysis of Chainlink (LINK) price chart in the 3-hour time frame indicates the continuation of the uptrend. Especially, closing prices above the $7.64 level carry the potential to sustain LINK’s upward movement, and there is a possibility of aiming for higher levels if resistance levels are surpassed.

Medium-Term LINK Analysis

Daily LINK/USD Price Chart

As we continue to update the Chainlink (LINK) price chart, it has provided our readers with a return of over 12% with the upward movement from the region we indicated in our analysis published on July 25th.

Click Here to Review the LINK Analysis We Shared on July 25th.

The nearest resistance level that stands out is $8.20. If the LINK price is supported by daily candlestick closures above $8.20, there is a possibility of moving towards the main target of $8.77. In case this resistance level is surpassed, it is observed that the LINK price may attempt to rise towards the $9 level.

On the other hand, if the LINK price cannot sustain above $8.20, it may exhibit a downward movement towards the nearest support zone at $7.43. If the LINK price encounters strong buying demand from the $7.43 level, it can resume the upward trend.

Short-Term LINK Analysis

3-Hour LINK/USD Price Chart

When examining the technical chart of LINK in the 3-hour time frame, we observe that the uptrend continues. As long as the $7.64 level mentioned in the analysis is maintained, there is a potential for the LINK price to continue its upward trend towards the $8.13 levels.

However, if the LINK price performs 3-hour candlestick closures below the $7.64 level, it can extend the downward movement towards the $7.42 support zone. At this point, it is important for LINK investors to closely monitor the support at the $7.64 level.

If the LINK price performs 3-hour candlestick closures below the $7.42 level, there is a possibility of extending the downward trend towards the $7.25 levels. However, if strong buying demand is encountered from the $7.42 level, it is observed that the LINK price can continue its upward trend from this zone, targeting first the $8.13 level and then the $8.50 levels.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

EU Central Bank Asserts Bitcoin BTC’s Value Remains Zero Despite Rising Market Acceptance

Despite Bitcoin's surge past $64,000 and ETF milestones in the U.S., the European Central Bank steadfastly views the leading digital asset's value as non-existent, highlighting potential economic and environmental risks.

BlackRock’s Bitcoin ETF IBIT Set to Eclipse Gold with $10 Billion Milestone, Reshaping Crypto ETF Landscape

Amid Bitcoin's ascent past $60,000, BlackRock's IBIT ETF is poised to outpace traditional gold investments, signaling a significant shift in investor preferences towards digital currencies.

Coinbase Experiences Unprecedented Traffic Surge Amid Bitcoin BTC’s Rally to $64K

In an extraordinary display of digital currency enthusiasm, Coinbase's platform traffic overwhelmingly surpassed expectations, underscoring the growing mainstream acceptance of Bitcoin and other cryptocurrencies.

Jeff Bezos Sparks Bitcoin Investment Rumors: A New High-Profile Player?

The cryptocurrency community is abuzz with speculation that Amazon founder Jeff Bezos could be making a significant move into Bitcoin, following a series of financial maneuvers and a high-profile meeting with Michael Saylor.

Solana Trader’s Astounding 4,530x Return on WIF Ignites Crypto Community Buzz

A Solana trader's incredible return on investment with dogwifhat (WIF) captivates the crypto world, spotlighting the high-reward potential of meme coins within the Solana ecosystem.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.