Chainlink Advances as the Crypto Aims At a High of $19

Chainlink (LINK) Long-Term Analysis: Bullish
Chainlink (LINK) has maintained its upward trend as the crypto aims at a high of $19. The crypto retraced and found support above the $13 low or the 21-day simple moving average. The altcoin also has the benefit of continuing to rise because it is above the moving average lines. The price indicator has previously indicated that the crypto would continue to rise.

On the upside, if the bulls can break above the $17 resistance level, the market will reach the 1.272 Fibonacci extension, or $19.17. However, the market will reverse at the 1.272 Fibonacci extension. Chainlink is now trading at $14.70 at the time of writing. The bulls are currently defending the 21-day SMA as the LINK price defends the present support.

Technical indicators:
Major Resistance Levels – $8.00, $10.00, $12.00
Major Support Levels – $6.00, $4.00, $2.00

Chainlink (LINK) Indicator Analysis
Since November 11, the altcoin has been declining, and the rise has come to a stop. On November 9, LINK’s price started a sideways trend after being rejected at $16. The moving average lines on the 4-hour chart are trending horizontally due to the price activity. On the daily chart, the price bars remain above the moving average lines, implying a continuing upward trend.

What Is the Next Direction for Chainlink (LINK)?
The chainlink’s price bars stay above the lines representing the moving average as the crypto aims at a high of $19. The predicted price level of $19 can be reached by the cryptocurrency if its price breaks through the $14 support level. One downside is that the market has become overbought.

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