Chainlink Price Analysis: LINK Bulls Must Overcome 20-day SMA To Reverse Trend
Daily Chainlink LINK Price Forecast
- Chainlink price must overcome 20-day SMA to reverse parabolic SAR.
- The MACD has reversed from bearish to bullish.
The Chainlink price crashed from $32 to $17 between June 4 and June 22 and flipped the 20-day and 200-day SMAs from support to resistance. Plus, the parabolic SAR also reversed from positive to negative during the drop. Let’s see what happened after that.
Chainlink Price Has Hattrick Of Bullish Sessions
Over the last three days, the Chainlink price jumped from $17 to $19. During this climb, LINK had reversed the MACD from bearish to bullish. On the upside, bulls face immediate resistance at the 20-day SMA.
Image: LINK/USD daily
The Chainlink price faces major resistance at the 20-day SMA ($21). As per the IOMAP, 8,270 addresses had purchased almost 8.7 million LINK tokens at this level.
Chainlink Price On-Chain Analysis – Santiment
“#Chainlink is climbing in terms of its raw amount of notable daily #github submissions. Our $LINK development activity metric is climbing back toward its #AllTimeHigh rate that was made 4 days before the price #AllTimeHigh of $52.88 on May 9th.”
Chainlink Price Is Expected To Reach These Levels
The buyers will need to push the Chainlink price above the 20-day SMA and reverse the parabolic SAR from negative to positive.