- The Chainlink price has been hovering horizontally between $19.55 and $18.25.
- The parabolic SAR and MACD both show positive sentiment.
The Chainlink price jumped from $16.85 to $19.50 between June 26 and June 29. Due to this climb, LINK managed to reverse the parabolic SAR from negative to positive. Here is what happened after that.
20-day SMA Continues To Be A Strong Obstacle For Chainlink Price
Since June 30, the Chainlink price has been hovering horizontally between $19.55 and $18.25. The buyers have tried multiple times to push LINK above the 20-day SMA but have failed to do so. The parabolic SAR and the MACD both indicate sustained bullish sentiment.
Image: LINK/USD daily
The Chainlink price has important support all at the $18.25 line. As per IntoTheBlock’s IOMAP, 6,800 addresses had purchased almost 15 million LINK tokens at this level.
Chainlink Price Is Expected To Reach These Levels
The $18.25 support wall needs to hold strong to prevent a downward drop. A further drop could take the Chainlink price to the $17 line.