Chainlink Regains Upward Momentum as It Crosses $7.65
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Chainlink (LINK) Long-Term Analysis: Bullish
Chainlink’s (LINK) price is rising as it crosses $7.65. The price of LINK has decreased to a low of $7.65, which is above the moving average lines. The slide has slowed above the moving average lines as the altcoin starts to rise. On the upswing of April 19, a retraced candle body tested the 38.2% Fibonacci retracement line. According to the retracement, LINK should rise to the Fibonacci level of 2.618, or $11.75. Chainlink has regained bullish momentum from the price movement as it started moving up again.
Chainlink (LINK) Indicator Analysis
Chainlink is at level 54 on the Relative Strength Index for period 14. The crypto asset remains in the bullish trend zone despite the decrease. The coin might maintain its rising trend in the future. The altcoin is still rising as long as the price bars remain above the moving average lines. The coin has fallen in the oversold region of the market. Currently, the daily Stochastic is below level 20. Buyers will converge in the oversold area to raise prices.
Technical indicators:
Major Resistance Levels – $18.00, $20.00, $22.00
Major Support Levels – $8.00, $6.00, $4.00
What Is the Next Direction for Chainlink (LINK)?
Chainlink is now rising higher as it crosses $7.65. The crypto’s price drop’s negative side has run its course. The rising surge has begun as buyers push the coin to test or cross the resistance at $9.00.
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