Chainlink Price Prediction: LINK Continues To Push Towards $20 

Daily Chainlink LINK Technical Analysis

By
Last Updated December 16th 2021
3 Min Read
  • The Chainlink price continued to push towards $20 during the ongoing session. 
  • LINK has been quite positive after dropping nearly 13% on Monday

The Chainlink price looked to keep moving towards $20 during the ongoing session as the price pushed higher. LINK had ended the weekend on a positive note, rising to $20.43. However, Monday saw a drastic fall, as the price dropped by almost 13% and settled at $17.78. On Tuesday, the price recovered, rising by almost 4% and moving up to $18.45. The current session sees LINK up by over 2%, as it moves towards $19. 

Chainlink Price Chart Indicates LINK Could Push To $20 

The Chainlink price started the previous week on a fairly positive note, as the price rose by 1.74% on Monday. LINK rose further on Tuesday, rising by over 6% and settling at $21.10. LINK saw an even bigger increase on Wednesday, rising by almost 9% and settling at $22.93. However, after reaching this level, the price dropped significantly, falling by 11.60% on Thursday and settling at $20.27, before another drop of over 8% on Friday saw the price drop to $18.56.

Image: LINK/USD daily

LINK/USD daily chart 121621

After dropping to $18.56 on Friday, the Chainlink price pushed up significantly over the weekend, rising to $19.95 after an increase of over 7% on Saturday. Sunday saw another increase of over 2%, as LINK ended the weekend at $20.43. However, Monday saw LINK back in the red, dropping by almost 13% and settling at $17.78, before pushing up on Tuesday and rising to $18.45. The current session sees the price up to $19.90, and with the Parabolic SAR currently bullish, we could see it push higher.

Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK faces strong resistance at around $20.37. At this price level, over 6000 addresses have sold more than 14 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 121621

Looking at the 4-hour Chainlink price chart, we can see that LINK had pushed up to $22.93 on the 9th. However, the price dropped from this level and fell below the 50-bar SMA, settling at $21.68. The price continued to drop from this level and slipped below the 20-bar SMA, dropping to $18.56 on the 11th. LINK made a strong recovery from this level, rising to $19.87 and then pushing above the 20 and 50-bar SMAs on the 13th, rising to $20.40. However, the price fell from this level, slipping below the two SMAs and settling at $17.78. The price rose to $18.48 on the 15th before dropping to $17.28 and then rising to its current level of $18.95.

We can see that the Parabolic SAR and MACD have both flipped to bullish, indicating that we could see the price rise further.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 121621

Chainlink Price Is Expected To Reach These Levels

Looking at the Chainlink price chart, we can see that LINK has made a strong recovery over the past couple of sessions. If the current sentiment persists, we could see LINK push to $20.