Chainlink Price Prediction: LINK Stalls, Unable To Push Past $20 

Daily Chainlink LINK Technical Analysis

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Last Updated February 9th 2022
3 Min Read
  • The Chainlink price is up by over 2% during the ongoing session as buyers look to push LINK past $20. 
  • LINK has been highly bullish in recent sessions and had pushed up by over 7% on Friday. 

The Chainlink price has been unable to push past $20 over the past couple of sessions even though the price remains in the green, with LINK currently at $19.35. LINK had been quite bullish over the weekend, rising by 1.46% on Saturday and pushing past the 20-day SMA. Sunday saw LINK continue to move higher, rising by nearly 2% and ending the weekend at $18.07. Monday saw LINK continue to push higher, as the price rose to $18.88 before pushing to $19 during the ongoing session. 

Chainlink Price Chart Indicates Buyers Looking To Push LINK To $20 

The Chainlink price started the previous weekend by registering a marginal increase on Saturday and then surging by nearly 10% on Sunday to end the weekend at $17.79. Despite the bullish sentiment, the price fell back on Monday, dropping by 3.50% and falling to $17.17. LINK continued to drop on Tuesday, registering a marginal drop, before falling by over 7% on Wednesday and dropping to $15.78. LINK made a fairly strong recovery on Thursday, rising by over 3% and settling at $16.30.

Image: LINK/USD daily

LINK/USD daily chart 020922

The Chainlink price continued to push up on Friday, as it rose by over 7% and moved to $17.51. The weekend saw LINK remain bullish, as the price rose by 1.46% on Saturday, moving past the 20-day SMA and then rising to $18.07 on Sunday, ending the weekend on a positive note. Monday saw LINK remain in the green, as it rose by 4.50%, moving to $18.88, before pushing to $19 during the current session.

We can see that the MACD is currently bullish, but if LINK fails to go past $20, we could see it flip to bearish.

Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK faces strong resistance at around $20.16. At this price level, over 7700 addresses have sold more than 24 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 020922

The 4-hour Chainlink price chart shows us that LINK had dropped to $16.34 on the 2nd. The 50-bar SMA was acting as support at this level, but LINK slipped below the level and dropped to $15.64 on the 3rd. LINK made a strong recovery from this level, pushing past the 20 and 50-bar SMAs and surging to $17.94 before dropping back to $17.46. LINK made another strong recovery from this level as the price pushed up, surging to its current level of $19.

We can see that the MACD and Parabolic SAR are bullish. However, if LINK slips back below $19, we could see them flip to bearish.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 020922

Chainlink Price Is Expected To Reach These Levels

Looking at the Chainlink price chart, we can see that LINK has been extremely bullish in recent sessions. However, LINK faces strong resistance at $20, and if LINK can go past this level, we could see LINK push towards $25. However, if LINK falls back, we could see the price drop towards $15.