Chainlink Price Analysis: LINK Has Flipped Market Sentiment From Positive To Negative
Daily Chainlink LINK Price Forecast
- Chainlink price has dropped by $5 over the last four days.
- On the downside, the strongest support line is at $35.
In a three week level between March 25 and April 15, the Chainlink price surged from $25 to $42.50, gaining almost $18 in overall valuation. However, since then, the LINK price has had four straight bearish sessions.
Chainlink Price Drops Below Critical Level
Over the last four days, the Chainlink price has crashed from $42.70 to $37, losing more than $5 in its overall valuation. Due to this downward surge, LINK has flipped the parabolic SAR from positive to negative and nearly reversed the MACD from green to red.
Image: LINK/USD daily
Looking at the daily Chainlink price chart, we can see that the 20-day SMA ($35) has protected the downside. As per the IOMAP, 460 addresses had purchased nearly 8 million LINK tokens.
Chainlink Price Is Expected To Reach These Levels
The Chainlink price will need to flip the $38 resistance barrier from resistance to support before they jump into the $40 zone.