Chainlink Technical Analysis: LINK Attempts To Bounce Up From The 20-day SMA

Daily Chainlink LINK Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Chainlink price faces immediate resistance barrier at $37.
    • MACD shows decreasing bearish market momentum.

    On April 25, the Chainlink price bounced up from the 50-day SMA and jumped from $31.29 to $36.80 before encountering resistance at the $37 line. During this upward surge, LINK managed to flip the 20-day SMA from resistance to support.

     

    Chainlink Price Stuck Between Key Levels

    The Chainlink price dropped from $42.65 to $31, between April 16 to April 24. During this fall, LINK managed to reverse the 20-day SMA from support to resistance. If LINK buyers break past the $37 resistance, it should reverse the parabolic SAR from negative to positive. The MACD shows decreasing bearish market momentum.

    Image: LINK/USD daily

    link/usd daily chart 043021

    Chainlink price faces an immediate resistance barrier at $37, wherein nearly 6,000 addresses had purchased a little over 4.72 million LINK tokens.

    Image: IntoTheBlock

    link/usd volume chart 043021

    Chainlink Price Is Expected To Reach These Levels

    The Chainlink price will need to break past the $37 resistance barrier to reach the $40 psychological barrier.

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