Chainlink Price Analysis: LINK Recovers, Looks To Push To $18 

Daily Chainlink LINK Price Forecast

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Last Updated February 2nd 2022
3 Min Read
  • The Chainlink price is up by over 1% during the current session, as buyers look to push LINK even higher. 
  • LINK had started the week in the red and had registered a drop of 3.50% on Monday. 

The Chainlink price has pushed back up during the ongoing session, as buyers look to push LINK past $18 after a sluggish start to the week saw the price drop over 3% on Monday. LINK was quite bullish over the weekend, as it rose by over 6% on Friday, moving to $16.16. Saturday saw LINK register a marginal increase, rising by 0.47%, before surging nearly 10% on Sunday and ending the weekend at $17.79. LINK fell back on Monday despite the bullish sentiment, dropping to $17.17, before recovering during the ongoing session. 

Chainlink Price Chart Indicates Buyers Could Push LINK To $18 

The Chainlink price started the previous weekend in the red, dropping by nearly 14% on Friday and then a further 9.05% on Saturday to settle at $15.86. Despite the bearish sentiment, LINK recovered on Sunday, rising by 5% and ending the weekend at $16.65. However, Monday saw LINK back in the red, dropping over 6% to $15.59, before another marginal drop on Tuesday took the price down to $15.50. LINK remained in the red on Wednesday as sellers continued to push the price lower, falling by nearly 2% to $15.24.

Image: LINK/USD daily

LINK/USD daily chart 020222

The Chainlink price remained in the red on Thursday, as it registered a marginal drop but recovered on Friday, rising by over 6% and moving to $16.16. The weekend saw LINK remain bullish, registering an increase of 0.47% on Saturday and then surging by nearly 10% on Sunday to end the weekend at $17.79. Despite the bullish sentiment, LINK fell back on Monday, dropping by 3.50% and falling to $17.17, before recovering 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 $16.17. At this price level, over 10,000 addresses have bought nearly 11 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 020222

The 4-hour Chainlink price chart shows us that LINK had pushed above the 20-bar SMA on the 25th when it rose to $15.75. LINK continued to push higher from this level, as it rose to $16.12 before dropping back below the 20-bar SMA and falling to $14.48 on the 27th. LINK recovered from this level, as the price moved up to $15.35 but could not move past the 20-bar SMA and fell back to $14.93. LINK made a strong recovery from this point, as it surged past the 20 and 50-bar SMAs, moving to $17.61 on the 30th. The price fell back from this level, dropping to $16.89 before moving to its current level of $17.

We can see that the Parabolic SAR is currently bearish, but if the price continues to push higher, we could see it flip to bullish.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 020222

Chainlink Price Is Expected To Reach These Levels

Looking at the Chainlink price chart, we can see that LINK has made a fairly strong recovery during the ongoing session. If the current sentiment persists, we could see LINK push to $18.