Chainlink Price Prediction: LINK Has Had Three Straight Bullish Sessions

Daily Chainlink LINK Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • Chainlink price faces major resistance at the $26 resistance barrier.
  • The parabolic SAR currently indicates negative market sentiment.
  • Between June 4 and June 11, the Chainlink price crashed from $32 to $21.70, flipping the 20-day and 200-day SMAs from support to resistance. Along with that, LINK also managed to reverse the parabolic SAR from positive to negative. Following this crash, the buyers took control of Chainlink.

    Chainlink Price Has Three Straight Bullish Sessions

    On June 12, the Chainlink price bounced up from the $22 support wall and had three consecutive bullish sessions, and reached $24.35. The parabolic SAR shows that the current market sentiment is negative. The relative strength index (RSI), on the other hand, shows that LINK still has some space to move before getting overpriced.

    Image: LINK/USD daily

    LINK/USD daily chart 061521

    The Chainlink price faces strong resistance around $26, which sees a confluence of the 20-day and 200-day SMAs. As per the IOMAP, over 11,000 addresses had purchased almost 25 million LINK tokens at this level.

    Image: IntoTheBlock

    LINK/USD volume chart 061521

    Chainlink Price Is Expected To Reach These Levels

    If Chainlink price manages to overcome resistance at the $26 resistance barrier it will reach the $30 resistance barrier.

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