Chainlink Is Rising as It Looks for a High of $8.50
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Chainlink (LINK) Long-Term Analysis: Bullish
The price of Chainlink (LINK) has kept up its positive trend as it looks for a high of $8.50. As the altcoin continues to rise, the present positive trend has broken above the $6.69 barrier level. The price indicator has shown that prices will continue to rise. The cryptocurrency asset is anticipated to increase to its $8.00 and $8.50 highs.
As the cryptocurrency asset moves closer to the overbought area, the altcoin’s upward trajectory is constrained. The altcoin is currently soaring following a brief setback above the $6.71 mark.
Technical indicators:
Major Resistance Levels – $8.00, $10.00, $12.00
Major Support Levels – $6.00, $4.00, $2.00
Chainlink (LINK) Indicator Analysis
Chainlink is positive on the Relative Strength Index period 14 at level 65. The price of the coin is rising since the price bars are above the moving average lines. . The crypto asset is bullishly trending above the daily Stochastic threshold of 60. Moving average lines slant higher, indicating an uptrend.
What Is the Next Direction for Chainlink (LINK)?
The cryptocurrency is on a positive trend as it looks for a high of $8.50. As long as the price bars are above the moving average lines, the cryptocurrency will climb. A retraced candle body tested the 50% Fibonacci retracement level on the July 14 uptrend. The retracement suggests that LINK will increase to the level of the 2.0 Fibonacci extension, or $8.53.
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