- The Chainlink price broke through the 200-day SMA during the ongoing session and moved above $25.
- LINK has been extremely bullish since the weekend and had registered a significant increase of over 8% on Monday as well.
The Chainlink price continued its bullish run, with LINK surging during the ongoing session. LINK had been very bullish over the weekend, ending Sunday at $21.87. LINK continued to push up on Monday, as it broke past the 50-day SMA and settled at $23.71 before registering a slight drop of 1.23% on Tuesday. However, the current session saw LINK back in the green as it surged past the 200-day SMA and moved to $25.
Chainlink Price Chart Indicates LINK Could Push Past $25
The Chainlink price started the previous week by registering a marginal increase on Monday. However, the price fell drastically on Tuesday, falling by over 11% and settling at $20.39. LINK continued to drop on Wednesday, slipping below the 20-day SMA and falling to $19.74. LINK managed an increase of just over 1% on Thursday, pushing to $19.93, but fell back in the red on Friday, dropping over 2% and settling at $19.51.
Image: LINK/USD daily
After dropping to $19.51 on Friday, the Chainlink price recovered over the weekend, rising by over 6% on Saturday, moving above the 20-day SMA and settling at $20.76. Sunday saw LINK continue to rise, as the price registered an increase of 5.31%, ending the weekend at $21.87. The current week started with the bullish sentiment persisting, as LINK broke past the 50-day SMA, rising to $23.71 after a surge of over 8%. The price registered a marginal drop on Tuesday and then registered a significant increase during the ongoing session, moving past the 200-day SMA and settling at $25.46.
We can see that the Parabolic SAR has flipped to bullish, indicating that we could see the price continue to push up.
IntoTheBlock’s IOMAP for the Chainlink price shows us that LINK faces strong resistance at around $25.81. At this price level, over 20,000 addresses have sold more than 49 million LINK. LINK also has strong support at around $23.48. At this price level, over 20,000 addresses have sold more than 43 million LINK.
Image: IntoTheBlock
The 4-hour Chainlink price chart shows us that LINK had dropped to $19.07 on the 31st, falling over 6% after failing to get past the 20-bar SMA. The price recovered from this level and moved past the 20-bar SMA, rising to $20.03 on the 1st. LINK continued to push higher from this level, marking the start of its bullish run, and surged past the 200-bar SMA on the 2nd, rising to $21.03. LINK then moved past the 50-bar SMA, rising to $22.01 before registering a marginal drop and falling to $21.36 on the 3rd. LINK surged from this level, rising to $24.06 and then registering a marginal drop to $23.42. The price then surged by over 9% on the 5th, rising to $25.59, which is where the price is presently at.
The MACD and Parabolic SAR are both bullish, indicating that we could see the price continue to push higher.
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 been extremely bullish since the weekend. If the current sentiment persists, we could see LINK push past $25, moving towards $30.