Chainlink Price Prediction: Can LINK Push To $18?

Daily Chainlink LINK Technical Analysis

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Last Updated February 3rd 2022
3 Min Read
  • The Chainlink price is up by nearly 2% during the ongoing session, as buyers look to push LINK to $18. 
  • LINK had gotten off to a fairly bearish start to the week and had dropped by 3.50% on Monday. 

The Chainlink price started the current session on a fairly positive note, as buyers look to push LINK to $18 and above. LINK had ended the weekend on an extremely bullish note, rising by nearly 10% and settling at $17.79. However, LINK fell back in the red on Monday, as the price dropped by 3.50% and settled at $17.17, before registering another drop on Tuesday, falling by 0.99% and settling at $16.99, before recovering during the ongoing session. 

Chainlink Price Chart Indicates LINK Could Push To $18 

The Chainlink price was extremely bearish over the previous weekend, registering a drop of over 9% on Saturday, dropping to $15.86. However, LINK recovered on Sunday, rising by 5% and ending the weekend at $16.65. Monday saw LINK fall back, as the price fell by over 6%, falling to $15.59. LINK remained bearish on Tuesday and Wednesday, dropping by 0.57% and 1.69%, respectively, dropping to $15.23. LINK remained at this level on Thursday before surging by over 6% on Friday and rising to $16.16.

Image: LINK/USD daily

LINK/USD daily chart 020322

The Chainlink price started the weekend with the positive sentiment persisting, as it registered a marginal increase on Saturday, before surging by nearly 10% on Sunday and ending the weekend at $17.79. Despite the bullish sentiment, LINK fell back in the red on Monday, dropping by 3.50%, and then registering a fall of 0.99% on Tuesday and dropping to $16.99. The current session has seen a marginal recovery, as buyers look to push LINK to $18.

We can see that the MACD has flipped to 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 $16.39. At this price level, over 9500 addresses have bought more than 8.5 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 020322

The 4-hour Chainlink chart shows us that LINK had pushed above the 20-bar SMA on the 265h, rising to $15.75. LINK continued to move higher from this level and rose to $16.12 before dropping back, slipping back below the 20-bar SMA and falling to $14.48. LINK pushed up to $15.35 from this level but could not move past the 20-bar SMA and fell back, dropping to $14.93 on the 28th. LINK registered a strong recovery from this level, as the price surged past the 20 and 50-bar SMAs, rising to $17.61. The price pushed up to $17.79 but fell back, dropping to $17.05 on the 31st. LINK continued to fall from this level, slipping below the 20-bar SMA and dropping to $16 before moving back to its current level of $17.

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

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 020322

Chainlink Price Is Expected To Reach These Levels

Looking at the Chainlink price chart, we can see that LINK has gotten off to a fairly bearish start to the week but has registered a marginal recovery during the ongoing session. If buyers manage to retain the session, we could see LINK push to $18, but if sellers manage to push the price down, LINK could slip below $17.