Chainlink Technical Analysis: LINK Aims To Break Past $25

Daily Chainlink LINK Price Analysis

Last Updated August 3rd 2021
1 Min Read
  • The Chainlink price is presently hovering horizontally around $23.
  • The daily chart indicates multiple buy signals in the daily chart.

Since July 21, the Chainlink price jumped from $13.70 to $23.62, as the buyers seem to have taken full control of the market. Prior to that, LINK had dropped from $20 to $13.70 between July 7 and July 20. This drop has flipped the 20-day SMA from resistance to support and reversed the MACD from positive to negative.

Chainlink Price Hovering Horizontally Around $23

For the last three days, since July 31, the Chainlink price is hovering horizontally around $23. Prior to that, LINK had jumped from $13.75 to $23 between July 21 and July 31. During this jump, LINK managed to:

  • Flip the 20-day and 50-day SMAs from resistance to support.
  • Reverse the MACD from bearish to bullish.
  • Flip the parabolic SAR from negative to positive.

Image: LINK/USD daily

LINK/USD daily chart 080321

As per IntoTheBlock’s IOMAP, the Chainlink price has a strong resistance barrier at $25. Previously, at this level 6,700 addresses had purchased almost 30.5 million LINK tokens at this line.

Image: IntoTheBlock

LINK/USD volume chart 080321

Chainlink Price Is Expected To Reach These Levels

Our prediction remains the same. If the Chainlink price conquers the $25 resistance it should reach the 200-day SMA ($28).

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