Chainlink Price Prediction: LINK Buyers Attempts To Offset Sunday’s Losses
Daily Chainlink LINK Technical Analysis
- 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
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.
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.