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HomeAnalysisLINK fluctuates at $7.74 after a bullish run

LINK fluctuates at $7.74 after a bullish run

The latest Chainlink price analysis shows a massive bullish trend after the bull market rebounded above the $7.00 level. The coin has a resistance of $7.76, but a breakout of this level is expected to push it to the $8 and $8.50 levels in the short term. On the downside, the support is at $7.21 and a break below this level could lead to selling towards the $6.50 and $6 levels.

Chainlink Analysis is trading at $7.74 at press time, the last 24 hours as the market cap of digital assets surpasses $3.6 billion with 24-hour trading volume just above $359 million. It is up over 4.36 percent. Chainlink’s price analysis shows that the bull has returned to his $7.74 levels and is targeting the $8 levels in the near future. Digital assets are likely to see some degree of consolidation at their current levels before moving towards the aforementioned goals.

LINK/USD 1-Day Price Chart: Bullish Momentum Brings Price Back To $7.74

Chainlink’s 1-day price analysis reveals market volatility as the price fluctuates between the $7.21 and $7.76 trading range. Previously, a downward wave pushed the price down, but the bulls managed to push the price higher as the price found support near $7.21.

LINK/USD 1-day price chart, Source: Tradingview

The MACD is gaining bullish momentum when the signal line crosses the MACD line. The upper limit of the Bollinger Bands on the above timeframes has been expanded. This suggests that the market will soon enter a consolidation phase while the lower end of the Bollinger Bands is approaching his $6.73 support level. The RSI indicator is well above the 50 level, confirming the market’s bullish momentum.

Chainlink Price Analysis: Recent Developments and Further Tech Indications

Four-hour Chainlink price analysis shows price is following an ascending channel formation with higher highs and lower lows. The digital asset is trading well above the $7.21 support level and is currently near $7.76. is facing resistance. The bears may try to push the price down again, but the $7.21 support level is likely to bring strong buying interest to the market.

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LINK/USD 4-Hour Price Chart, Source: Tradingview

Volatility has also increased, which is an encouraging sign for buyers regarding the upcoming price trend. Similarly, the Bollinger Bands have separated highs and lows, suggesting that the market is about to enter a correction phase. The MACD on the above timeframe is also trying to break out of the signal line. This confirms the bullish trend in the market. The RSI indicator is currently at 63.64, well above the 50 level. This suggests that the market has plenty of room to move up in the near future.

Chainlink Price Analysis Conclusion

Chainlink price analysis reveals that the cryptocurrency has followed a strong upward trend, revealing much more room for bullish activity. is working in favor of LINK and could push LINK’s price up significantly to hit the $8 level in the near future.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com accepts no liability for investments made based on information provided on this page. Independent research and/or consultation with a qualified professional is strongly recommended before making any investment decision.

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