Chainlink Price Prediction: LINK Faces Major Resistance at $45

Daily Chainlink LINK Technical Analysis

1 Min Read
Last Updated April 16th 2021
  • Chainlink price consolidates around $40.
  • The MACD shows increasing bullish momentum.

Over the last three weeks, the Chainlink price jumped from $24.75 to $40.50, growing by more than 50%. During this upward surge, LINK rose in an upward channel formation and flipped the 20-day and 50-day SMAs from resistance to support.

Chainlink Price On An Upward Charge

Over the last two days the Chainlink price failed at the $45 resistance barrier and dropped down. There are two signs that shows us that the overall market sentiment around LINK is positive:

  1. The MACD shows increasing bullish market momentum.
  2. The relative strength index (RSI) shows that the price still has room for growth.

Image: LINK/USD daily

link/usd daily chart 041621

Looking at IntoTheBlock’s IOMAP, we can see a healthy support wall at $32.75. Previously, at this level, 5,000 addresses had purchased almost 13.5 million LINK tokens.

Image: IntoTheBlock

link/usd volume chart 041621

Top 10 Whale Addresses Hold >65% Of LINK Tokens

Chainlink shared this chart and tweeted the following:

"The amount of #Chainlink held by top 10 whales was 68.7% of the total supply 6 months ago. With its $44.12 #AllTimeHigh and wide network growth, this # is down to 64.3%.Also, the amount of $100k+ transactions has been at #ATH levels the past three days."

Chainlink Price Is Expected To Reach These Levels

The Chainlink price will probably retest the $43 resistance barrier and approach the $45-line.

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