Chainlink Technical Analysis: LINK Flashes Buy Signal With Red Nine Candlestick In The Daily Chart

Daily Chainlink LINK Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Chainlink price stuck between crucial levels.
  • MACD shows sustained bearish market momentum.
  • The Chainlink price crashed from $32 to $21.70 between June 4 and June 11, flipping the 20-day and 200-day SMAs from support to resistance. Prior to this crash, Chainlink was hovering horizontally around $32 between June and June 3. Let’s take a closer look with technical analysis.

    Chainlink Price Goes Up After Flashing Buy Signal

    Since June 11, the Chainlink price has gone up slightly to $22.20. This Saturday, LINK flashed the buy signal in the form of a red-nine candlestick. The MACD still shows sustained bearish momentum, so a break above the $23 barrier seems unlikely.

    Image: LINK/USD daily

    LINK/USD daily chart 061421

    The Chainlink price faces strong resistance at $23. As per the IOMAP, over 15,200 addresses had purchased almost 4.58 million LINK tokens at this level.

    Image: IntoTheBlock

    LINK/USD volume chart 061421

    Chainlink Price Is Expected To Reach These Levels

    The Chainlink price must overcome resistance at the $23 resistance barrier. Upon doing that, LINK will reach the $25 psychological level.