- The Chainlink price is marginally up during the ongoing session, as buyers look to push LINK to $14.
- LINK has been extremely bearish over the weekend and had dropped by over 7% on Sunday.
The Chainlink price is marginally up during the ongoing session, as buyers and sellers struggle to take control. LINK had registered a marginal drop on Thursday after a highly volatile session. The price recovered on Friday, rising by over 8% and settling at $14.36. LINK continued to push higher over the weekend, rising by 2.47% and moving to $14.71 before registering a significant drop on Sunday, falling by over 7% and settling at $13.64.
Chainlink Price Chart Indicates Buyers And Sellers Struggling To Establish Control
The Chainlink price started the previous weekend on a fairly positive note, rising by just over 2% and moving to $15.52. However, LINK fell back in the red on Sunday, falling by over 6% and settling at $14.60. Monday saw the bearish sentiment continue, as sellers pushed LINK down by nearly 8%, as the price slipped below the $14 level and settled at $13.50. Despite the bearish sentiment, LINK registered an increase of nearly 4% on Tuesday, rising to $13.99, before falling back in the red on Wednesday and dropping to $13.32.
Image: LINK/USD daily
The Chainlink price continued to drop on Thursday, registering a marginal drop after a highly volatile session. Despite the bearish sentiment, LINK was able to recover on Friday, rising by over 8% and moving to $14.36. On Saturday, the price continued to push higher, pushing up by over 2% and settling at $14.71. However, LINK fell back on Sunday, dropping over 7% and ending the weekend at $13.64. The current session sees LINK marginally down, as it struggles to stay above $13.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK faces strong resistance at around $14.64. At this price level, over 9000 addresses have sold nearly 10 million LINK.
More On Chainlink: Will LINK Value Increase?
The 4-hour Chainlink price chart shows us that LINK had pushed up to $14.41 on the 23rd, pushing above the 20-bar SMA. However, LINK could not stay at this level and fell back significantly, dropping below the 20-bar SMA and falling to $11.79 on the 24th. LINK was able to make a strong recovery from this level, pushing back above the 20-bar SMA, rising to $13.62 on the 25th. LINK remained bullish after reaching this price, surging past the 50-bar SMA and moving to $14.56. LINK registered a marginal increase, moving to $14.72 before dropping back and falling to $14.14. At this level, the 50-bar SMA acted as support, and the price pushed back up, rising to $14.65, before turning bearish, dropping below the 20 and 50-bar SMAs and moving to its current level of $13.55.
We can see that the Parabolic SAR and MACD are both bearish, indicating that we could see the price drop further.
Image: LINK/USD 4-hour
Chainlink Price Is Expected To Reach These Levels
Looking at the Chainlink price chart, we can see that LINK has registered a marginal drop during the ongoing session. If the current bearish sentiment persists, we could see LINK slip below $13.