Chainlink Price Prediction: LINK Stuck Between Two Crucial Levels

Daily Chainlink LINK Technical Analysis

Last Updated July 23rd 2021
1 Min Read
  • Chainlink price sentiment is currently negative.
  • MACD shows increasing bearish market momentum.
  • The Chainlink price has crashed from $25 to $21.50 between June 4 and June 20 having encountered resistance at the confluence of the 20-day and 200-day SMAs. On Monday, LINK crashed further to $17.55 with the bears regaining full control of the market. Let’s see what happened this Tuesday.

    Chainlink Price Precariously Placed Above Crucial Level

    This Tuesday, the Chainlink price dropped by further to $17.10 and is stuck below two crucial levels – $17.50 and $17. The MACD shows increasing bearish momentum, while the parabolic SAR indicates negative sentiment. Both these indicators tell us that LINK will drop some more. 

    Image: LINK/USD daily

    LINK/USD daily chart 062321

    The Chainlink price has crucial support at $17. As per the IOMAP, 5,800 addresses had purchased almost 2.73 million LINK tokens at this level. 

    Image: IntoTheBlock

    LINK/USD volume chart 062321

    Chainlink Price Is Expected To Reach These Levels

    A break below the $17 support wall will take Chainlink price to the $15 line.