Chainlink Price Prediction: LINK Registers Strong Start To The Week, Up By Over 4%

Daily Chainlink LINK Technical Analysis

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Last Updated February 22nd 2022
3 Min Read
  • The Chainlink price is up by over 4% during the ongoing session, as LINK looks to push towards $16. 
  • LINK had been fairly bearish during the previous week and had dropped to $14.60 on Sunday. 

The Chainlink price started the new week positively, as buyers pushed LINK to $15. LINK had started the weekend on a fairly bearish note, dropping by almost 3% on Friday. LINK was able to register a recovery on Saturday, rising by 2.19% but fell back in the red on Sunday to end the weekend at $14.60, a drop of almost 6%. The current session sees LINK back in the green as buyers look to push the price towards $16. 

Chainlink Price Chart Indicates LINK Could Push Towards $16 

The Chainlink price was quite bearish over the previous weekend, dropping by almost 7% on Friday and slipping below the 20-day SMA. LINK remained in the red over the weekend, dropping by 1.45% on Saturday, then falling by 3.30% on Sunday to end the weekend at $15.60. Despite the bearish sentiment, LINK made a strong recovery on Monday, rising by 1.90% and then surging by over 9% on Tuesday, pushing above the 20-day SMA and settling at $17.36. Wednesday saw LINK fall back in the red, registering a fall of 1.32%.

Image: LINK/USD daily

LINK/USD daily chart 022222

The Chainlink price continued to drop on Thursday as it slipped below the 20-day SMA, falling to $15.59. Friday saw LINK remain in the red, dropping by 2.59% and falling to $15.19. The price recovered over the weekend, rising to $15.52 on Saturday before dropping back on Sunday, falling over 4% and dropping to $14.60. The current session sees LINK back above $15 as buyers look to push the price higher.

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

Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK has strong support at around $16.83. At this price level, over 10,000 addresses have sold more than 13 million LINK.

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Image: IntoTheBlock 

LINK/USD volume chart 022222

The 4-hour Chainlink price chart shows us that LINK had pushed up to $17.27 on the 16th, pushing above the 50-bar SMA. The price fell significantly from this level, dropping below the 20 and 50-bar SMAs, and falling to $16.54. LINK continued to drop from this level, dropping to $15.59 on the 18th. LINK was able to register a marginal increase from this level but fell back, dropping to $15 on the 19th. LINK registered another marginal increase from this level, rising to $15.52 before dropping to $14.60 and then moving to its current level of $15.

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

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 022222

Chainlink Price Is Expected To Reach These Levels

The Chainlink price chart shows us that LINK has registered a fairly strong recovery during the ongoing session. If the current sentiment persists, we could see LINK push to $16. However, if sellers retake the session, LINK could drop back below $15.

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