- ChainLink has broken a roughly horizontal trend channel in the short term to the upside. This indicates ongoing strong development, and the cryptocurrency currently finds support towards trendlines in possible reactions.
- Volume peaks and volume troughs align well with price peaks and troughs. This strengthens the cryptocurrency and increases the likelihood of an uptrend.
- Today’s Chainlink price is $6.72 USD, with a 24-hour trading volume of $212,112,987 USD. Chainlink has experienced a 2.79% loss in the last 24 hours. It is currently ranked 19th on CoinMarketCap.
Chainlink (LINK) broke a horizontal trend channel upwards; What resistance levels does LINK need to overcome to continue its rise?
Short-Term LINK Analysis
ChainLink has broken the roughly horizontal short-term trend channel to the upside, indicating ongoing strong development, and the cryptocurrency currently finds support towards trendlines in possible reactions. The cryptocurrency’s support levels are stated as $5.93 and resistance levels as $7.14. From a short-term technical perspective, the cryptocurrency is considered positive.
Medium-Term LINK Analysis
ChainLink is within a medium-long term roughly horizontal trend channel, indicating continued development in the same direction. The price gave a pullback after breaking the rectangle formation without reaching the target. Breaking $6.75 significantly would provide new negative signals for the cryptocurrency, but breaking the opposite side of the formation would be a strong positive signal. The cryptocurrency’s support levels are stated as $5.93 and resistance levels as $8.25. Volume peaks and volume troughs align well with price peaks and troughs, strengthening the cryptocurrency and increasing the likelihood of an uptrend. In the medium term, the cryptocurrency is generally considered neutral from a technical standpoint.
Long-Term LINK Analysis
ChainLink is within a long-term roughly horizontal trend channel, indicating that investors are uncertain and are awaiting further directional signals. An upside breakout would be a positive signal, while a downside breakout would be a negative signal. The cryptocurrency moves between support at $4.84 and resistance at $8.06. A clear break of one of these levels will indicate a new direction for the cryptocurrency.
The cryptocurrency is trading between support at $5.80 and resistance at $8.50. A clear break of one of these levels can provide insights into the new direction. Volume peaks and volume troughs align well with price peaks and troughs, strengthening the cryptocurrency and increasing the likelihood of an uptrend. In the long term, the cryptocurrency is generally considered positive from a technical standpoint.
Chainlink Price
Today’s Chainlink price is $6.72 USD, with a 24-hour trading volume of $212,112,987 USD. Chainlink has experienced a 2.79% loss in the last 24 hours. It is currently ranked 19th on CoinMarketCap, with a live market cap of $3,742,765,351 USD. There are 556,849,970 LINK coins in circulation, with a maximum supply of 1,000,000,000 LINK coins.
Summary
The ChainLink (LINK) analysis evaluates the cryptocurrency’s status from short-term, medium-term, and long-term perspectives. Short-term analysis shows that the cryptocurrency has broken the horizontal trend upwards and is considered positive from a technical standpoint. Medium-term analysis indicates continued development in a horizontal trend and presents a neutral outlook. Long-term analysis suggests investor uncertainty but highlights the cryptocurrency’s positive technical outlook. Current data on LINK price is also provided. Investors should consider these analyses when making decisions.
