Chainlink Price Prediction: LINK Buyers Attempts To Offset Sunday’s Losses

Daily Chainlink LINK Technical Analysis

Last Updated August 12th 2021
1 Min Read
  • The Chainlink price finally crossed the $25 psychological level.
  • RSI is hovering at the edge of the overpriced zone.

The Chainlink price has been under bullish control for three straight days during which it went from $23 to $26 – breaking above the $25 psychological level. On the upside, LINK has immediate resistance at the 200-day SMA ($27.50). The relative strength index (RSI) is hovering at the edge of the overbought zone, so a further rise could result in a bearish correction.

Buyers In Control Of Chainlink Price For Three Days

Prior to this hattrick of bullish days, the Chainlink price rose from $13.65 to $24.65 between July 21 and August 7 – gaining $11 in its valuation. During this jump, LINK managed to:

  • Flip the 20-day and 50-day SMAs from resistance to support.
  • Reverse the MACD from red to green.

Image: LINK/USD daily

LINK/USD daily chart 081221

As per IntoTheBlock’s IOMAP, the Chainlink price faces strong resistance at the 200-day SMA ($27.50). Previously, at this level, 11,000 addresses had purchased almost 13.55 million LINK tokens at this line.

Image: IntoTheBlock

LINK/USD volume chart 081221

Chainlink Price Is Expected To Reach These Levels

Chainlink price now faces two strong resistance barriers at the 200-day SMA ($27.50) and $30. Taking them down will take LINK above the $30 psychological level.

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