Chainlink Price Analysis: Can LINK Push To $20?

Daily Chainlink LINK Price Forecast

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Last Updated December 22nd 2021
3 Min Read
  • The Chainlink price has started the current session on a reasonably positive note, with LINK up to $19. 
  • LINK was quite bearish at the end of the previous week and had dropped by over 3% on Sunday. 

The Chainlink price started the current session on a bullish note, as buyers look to push LINK above $20. LINK has been quite bearish over the past few days and had dropped to $18.28 on Friday. The price recovered on Saturday, rising by almost 7% and settling at $19.54. However, LINK could not push past $20, as the price dropped by over 3% on Sunday, ending the weekend on a bearish note. The bearish sentiment continued on Monday, as LINK registered a marginal drop of 0.50% before recovering during the ongoing session. 

Chainlink Price Chart Indicates Buyers Looking To Push LINK To $20 

The Chainlink price started the previous weekend on a fairly positive note, with LINK registering an increase of over 7% on Saturday and settling at $19.95. On Sunday, the price continued to push higher, moving above $20 and settling at $20.43. However, on Monday, the price was back in the red as LINK dropped by almost 13% and settled at $17.78. Despite the bearish start to the week, LINK was back in the green on Tuesday, rising by almost 4% and settling at $18.45. Wednesday saw LINK continue to push higher, as the price rose to $19.69 after an increase of nearly 7%.

Image: LINK/USD daily

LINK/USD daily chart 122221

After pushing up to $19.69, the Chainlink price fell back on Thursday, dropping by almost 5% and settling at $18.77. LINK continued to drop further on Friday as it fell by 2.61% and settled at $18.28. The weekend started with a strong recovery for LINK, with the price rising by almost 7% on Saturday and settling at $19.54. However, LINK was back in the red on Sunday, falling by 3.45% and settling at $18.87. On Monday, the price continued to drop, with LINK registering a marginal drop before pushing up during the ongoing session.

We can see that the Parabolic SAR is currently bullish, indicating that we could see the price push higher.

Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK has strong support at around $18.77. At this price level, over 10,000 addresses have sold more than 13 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 122221

The 4-hour Chainlink price chart shows us that LINK had pushed above the 20-bar SMA on the 15th when the price rose to $18.88. LINK continued to rise from this level and pushed above the 50-bar SMA, settling at $20.26. However, the price fell after reaching this level, falling below the 20 and 50-bar SMAs and settling at $18.27 on the 17th. LINK made another strong recovery from this level, pushing back above the 20 and 50-bar SMAs and settling at $19.80m before a marginal increase saw the price push to $20.12. However, LINk turned bearish from this level and dropped significantly, falling back below the 20 and 50-bar SMAs and settling at $18.45 before rising to its current level of $19.

We can see that the Parabolic SAR and MACD are both bearish, but if LINK continues to increase, we could see them flip to bullish.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 122221

Chainlink Price Is Expected To Reach These Levels

Looking at the Chainlink price chart, we can see that LINK has been quite bullish during the ongoing session. If the current sentiment persists, we could see LINK push to $20.