Chainlink Is on the Upswing but Faces Resistance at $19
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Chainlink (LINK) Long-Term Analysis: Bullish
Chainlink’s (LINK) price is in an uptrend but faces resistance at $19. Over the last 48 hours, the altcoin has had difficulty rising beyond its $19 peak. If buyers exceed the current high, the cryptocurrency will reach a new high of $22. The altcoin is now valued at $18.53 as of this writing.
On the downside, if the crypto retraces and remains above the breakthrough mark of $17.00, the LINK price will be forced to move in a range between $17 and $19. Nonetheless, if the bears break the $17 support level, the price range would be extended downward. Chainlink will trade above the moving average lines but below the resistance of $19.00.
Meanwhile, the cryptocurrency’s price continues to fluctuate below its recent high.
Technical indicators:
Major Resistance Levels – $8.00, $10.00, $12.00
Major Support Levels – $6.00, $4.00, $2.00
Chainlink (LINK) Indicator Analysis
Following the recent price bounce, the price bars have remained elevated above the moving average lines. The crypto asset will grow as long as the price bars remain above the moving average lines. The moving average lines are trending upward, consistent with the present rise.
What Is the Next Direction for Chainlink (LINK)?
Chainlink is on an uptrend on the 4-hour chart but faces resistance at $19. The crypto price retested the resistance level twice while falling above the moving average lines. The altcoin is recovering above the $18 support and remains above it. In the longer term frame, the crypto signal stays optimistic as the altcoin retraces above the $18 support and moving average lines.
The rising movement will begin as long as the cryptocurrency price remains above the present support level.
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