Chainlink Technical Analysis: LINK Aims To Break Past $25
Daily Chainlink LINK Price Analysis
- 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
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.
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).