0

Chainlink Price Prediction: LINK About To Crossover Crucial Level

Daily Chainlink LINK Technical Analysis

1 Min Read
Last Updated May 4th 2021
  • Chainlink price aims to break down the $42 resistance barrier.
  • The parabolic SAR has flipped from negative to positive.

The Chainlink price bounced up from the 50-day SMA on April 25 and reached $41.65 from $31.30, gaining almost $10 till date. During this upward surge, LINK managed to flip the 20-day SMA from resistance to support. Let’s take a closer look with technical analysis.

Chainlink Price On The Verge Of $42 Resistance Barrier

The Chainlink price dropped from $41 to $39.50 after it met strong resistance. As things stand, LINK is falling fast towards the 20-day SMA. The MACD shows increasing bullish market momentum. Plus, the parabolic SAR has reversed from negative to positive. The relative strength index (RSI) shows that LINK is on the verge of being overbought.

Image: LINK/USD daily

LINK/USD daily chart 050421

Chainlink price faces an immediate resistance barrier at $42, wherein nearly 4,500 addresses had purchased a little over ~400,000 LINK tokens.

Image: IntoTheBlock

LINK/USD volume chart 050421

Chainlink Price Is Expected To Reach These Levels

The Chainlink price has what it takes to break past the $42 resistance barrier and reach the $45 psychological level.

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