Chainlink Price Analysis: LINK Pushes To $22 After Bullish Weekend

Daily Chainlink LINK Price Forecast

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Last Updated December 27th 2021
3 Min Read
  • The Chainlink price moved to $22 during the current session as LINK continued to increase. 
  • LINK had been quite bullish towards the end of the week and had risen by over 11% on Thursday. 

The Chainlink price continued to push higher, with LINK moving to $22 during the ongoing session. LINK has been quite bullish towards the end of the week, rising by over 11% on Thursday, settling at $22.18. LINK fell back on Friday, dropping to $21.47, before recovering over the weekend. Saturday saw LINK rise by 3% and settle at $22.11 before the current session saw LINK move to $22. 

Chainlink Price Chart Indicates LINK Could Push To $23 

The Chainlink price entered the previous weekend on a fairly bearish note, dropping by 2.53% on Friday. However, the price recovered on Saturday, rising by almost 7% and settling at $19.55, before falling back in the red on Sunday and dropping to $18.88. Monday saw LINK remain in the red, registering a marginal drop, before pushing up by 3.51% on Tuesday and settling at $19.44. LINK continued to increase on Wednesday, rising by 2.49% and settling at $19.92. 

Image: LINK/USD daily

LINK/USD daily chart 122721

After rising to $19.92 on Wednesday, the Chainlink price posted a significant increase on Thursday, rising by over 11% and settling at $22.18. Despite the bullish sentiment, LINK fell back on Friday, dropping by over 3% and settling at $21.47. The weekend saw LINK make a strong recovery, rising to $22.11 on Saturday before pushing up to $22 during the current session.

We can see that the Parabolic SAR and MACD are bullish, indicating that we could further see the price increase.

Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK faces strong resistance at around $23.08. At this price level, nearly 15,000 addresses have sold more than 54 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 122721

The 4-hour Chainlink price chart shows us that LINK had dropped to $18.45 on the 20th. The price pushed up significantly from this level, rising above the 20 and 50-bar SMAs and settling at $19.44 on the 22nd. LINK remained bullish after reaching this level, pushing to $20.49 and then dropping to $19.92. LINK pushed up significantly despite the bearish sentiment, rising to $22.18 and pushing above the 200-bar SMA. LINK could stay at this level for a few sessions before dropping to $21.47, slipping below the 200-bar SMA. The price pushed back above the SMA, rising to $22.11, before dropping back below the 200 and 20-bar SMAs to $21.21. LINK then surged to its current level of $22 after moving back above the two SMAs.

We can see that the Parabolic SAR has just turned bullish, and if the price continues to increase, we could see the MACD turn bullish as well.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 122721

Chainlink Price Is Expected To Reach These Levels

Looking at the Chainlink price chart, we can see that LINK has been extremely bullish over the weekend. If the current sentiment persists, we could see LINK move to $23 and test the resistance at that level.