Chainlink Price Prediction: Buyers Look To Push LINK To $20 

Daily Chainlink LINK Technical Analysis

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Last Updated February 8th 2022
3 Min Read
  • As buyers continue to push LINK higher, the Chainlink price is up by over 3% during the ongoing session. 
  • LINK has been highly bullish in recent sessions and had surged by over 7% on Friday. 

The Chainlink price continued to remain in the green, starting the week on a bullish note, with LINK up by nearly 3% during the ongoing session. LINK had registered a significant increase on Friday, rising by over 7% and settling at $17.51. The weekend saw LINK continue to push higher, as LINK moved past the 20-day SMA on Saturday and then rose to $18.07 on Sunday, ending the weekend on a fairly positive note. The current session sees LINK at $18.64, as buyers look to push the price to $20. 

Chainlink Price Chart Indicates LINK could Push To $20 

The Chainlink price was quite bullish over the previous weekend, rising by over 6% on Friday and moving to $16.16. The price continued to push higher over the weekend, registering a marginal increase on Saturday and then pushing up by nearly 10% on Sunday to end the weekend at $17.79. However, LINK fell back on Monday, falling by 3.50% and then registering a marginal drop on Tuesday, moving to $16.99. LINK continued to drop on Wednesday, falling over 7% and settling at $15.78.

Image: LINK/USD daily

LINK/USD daily chart 020822

After dropping to $15 on Wednesday, the Chainlink price was back in the green on Thursday, rising over 3% and moving to $16.30. LINK continued to push higher on Friday as the price surged by over 7% and settled at $17.51. The weekend remained bullish for LINK, as it moved past the 20-day SMA on Saturday and then moved to $18.07 on Sunday, ending the weekend on a positive note. The current session sees LINK up by over 3% as buyers look to push the price to $20.

We can see that the MACD 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 faces strong resistance at around $20.61. At this price level, over 6000 addresses have sold more than 23 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 020822

The 4-hour Chainlink price chart shows us that LINK had dropped below the 20-bar SMA on the 1st, falling to $16.85. The price registered a marginal increase from this level before dropping back below the 50-bar SMA, falling to $15.64 on the 3rd. LINK made a strong recovery from this level, pushing back above the 20 and 50-bar SMAs and moving to $17.94. LINK fell back from this level, as it dropped to $17.46 before recovering and rising to its current level of $18.

We can see that the Parabolic SAR has flipped to bullish, indicating that we could see the price push higher.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 020822

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 and has registered a significant increase during the ongoing session. If the current sentiment persists, we could see LINK push to $20.