Chainlink Price Analysis: LINK Stuck Below 20-day SMA

Daily Chainlink LINK Price Forecast

Last Updated July 23rd 2021
1 Min Read
  • Chainlink price has strong support at $18
  • MACD shows increasing bullish market momentum.
  • Since June 22, the Chainlink price has been stuck between $16.80 and $20. Prior to this, LINK had plummeted from $25 to $16.80 between June 15 and June 22. Let’s take a closer look at technical analysis.

    Chainlink Price Again Struggles Below 20-day SMA

    Since July 7, the Chainlink price has dropped from $20 to the $18 support line. During this drop, LINK managed to flip the 20-day SMA from support to resistance. The MACD indicates sustained bullish market momentum. The Bollinger Band has lately started expanding to indicate increasing volatility.

    Image: LINK/USD daily

    LINK/USD daily chart 071221

    The Chainlink price is sitting on healthy support at $18. As per IntoTheBlock’s IOMAP, 8,000 addresses had purchased almost 11 million LINK tokens at this level. 

    Image: IntoTheBlock

    LINK/USD volume chart 071221

    Chainlink Price Is Expected To Reach These Levels

    The Chainlink price needs to overcome the 20-day SMA to revisit the $20 resistance barrier.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.