Chainlink Price Prediction: LINK Continues To Be Rejected By 20-day SMA

Daily Chainlink LINK Technical Analysis

1 Min Read
Last Updated July 23rd 2021
  • 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

    LINK/USD daily chart 070621

    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. 

    Image: IntoTheBlock

    LINK/USD volume chart 070621

    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.

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