- ChainLink has broken out of a short-term horizontal trend channel after investors paid more. This triggered a positive signal and indicates further increases for LINK.
- ChainLink is within a long-term horizontal trend channel. This reflects investor uncertainty and the expectation of more directional signals.
- Medium-term analysis generally provides a positive technical evaluation. Long-term analysis reflects a period of investor uncertainty, with signals expected for future directions.
In our current ChainLink (LINK) analysis for September 24, we assess the short, medium, and long-term outlook: Can LINK hold above resistance?
Short-Term ChainLink (LINK) Analysis
ChainLink has broken out of a short-term horizontal trend channel after investors paid more. This triggered a positive signal and indicates further increases for LINK. LINK has slightly surpassed the resistance at $7.15. This breakthrough predicts further upside potential. The volume balance is positive, providing strength for LINK in the short term.
After a significant price increase in recent weeks, the RSI is above 70. LINK has strong positive momentum, signaling further increases. However, especially for larger assets, a high RSI can indicate overbought conditions and the possibility of a downward reaction. In the short term, LINK is technically evaluated as generally positive.
Medium-Term ChainLink (LINK) Analysis
ChainLink is within a medium to long-term horizontal trend channel, indicating further developments in the same direction. After the breakout of the rectangular formation, which occurred before reaching the target at $4.38, the price retraced. A significant break at $6.75 will provide new negative signals for LINK, while a break on the opposite side of the formation will be a strong positive signal. LINK is trading near the resistance at $7.16. Volume peaks and troughs align well with price peaks and troughs. The volume balance is positive, strengthening the currency, indicating an increased likelihood of an uptrend. In the medium term, the currency is technically evaluated as generally neutral.
Long-Term ChainLink (LINK) Analysis
ChainLink is within a long-term horizontal trend channel, reflecting investor uncertainty and the expectation of more directional signals. A breakout to the upside would be a positive signal, while a breakdown to the downside would be a negative signal. LINK is moving within a rectangular formation between the support at $4.84 and the resistance at $8.05. A decisive break above or below these levels will indicate a new direction for the currency. LINK is between the support at $5.80 and the resistance at $8.50. A decisive break above or below these levels will help predict the new direction. Volume peaks and troughs align well with price peaks and troughs. The volume balance is positive, strengthening the currency, indicating an increased likelihood of an uptrend. In the long term, the currency is technically evaluated as generally positive.
ChainLink (LINK) Price
Today’s Chainlink price is $7.10, with a 24-hour trading volume of $234,067,247 USD. Chainlink has experienced a 0.06% decrease in the last 24 hours. It currently ranks 19th with a live market capitalization of $3,956,022,808 USD and has a circulating supply of 556,849,970 LINK coins, with a maximum supply of 1,000,000,000 LINK coins.
Summary
ChainLink (LINK) analysis assesses the short, medium, and long-term outlook. Short-term analysis generally provides a positive technical evaluation. Medium-term analysis generally provides a positive technical evaluation. Long-term analysis reflects a period of investor uncertainty, with signals expected for future directions. These analyses can help LINK investors understand potential future price movements.
