Chainlink Technical Analysis: LINK Looks To Move Past $23  

Daily Chainlink LINK Price Analysis

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Last Updated December 28th 2021
3 Min Read
  • The Chainlink price has registered a slight drop during the ongoing session. 
  • LINK has been quite bullish over the past few days and had surged by over 11% on Thursday. 

The Chainlink price had registered a slight drop during the ongoing session, as buyers and sellers struggle to control the session. LINK had pushed up significantly on Thursday, rising by over 11% and settling at $22.18. The price fell back on Friday, dropping by over 3% and settling at $21.47. However, LINK recovered over the weekend, rising by 3% on Saturday and almost 4% on Sunday to end the weekend at $22.98. 

Chainlink Price Chart Indicates LINK Could Move Past $23 

The Chainlink price was quite bullish over the previous weekend, as it registered an increase of nearly 7% on Saturday and settled at $19.55. However, LINK fell back on Sunday, dropping by over 3% and settling at $18.88. Monday saw LINK remain in the red, registering a marginal drop, before rising by 3.51% and settling at $19.44. The price continued to push higher on Wednesday, as it rose by 2.49% and settled at $19.92.

Image: LINK/USD daily

LINK/USD daily chart 122821

After rising to $19.92 on Wednesday, the Chainlink price pushed up significantly on Thursday, as it moved past the 20-day SMA and settled at $22.18. Despite the bullish sentiment, the price fell back in the red on Friday, dropping by over 3% and settling at $21.47. The weekend saw LINK back in the green, rising to $22.11 on Saturday and then rising by nearly 4% on Sunday and settling at $22.98. The current session sees LINK at $23, as buyers look to push the price to $25. We can see that the Parabolic SAR is currently bullish, indicating that the price could move higher.

Looking at IntoTheBlock’s IOMAP for the Chainlink price, we can see that LINK faces strong resistance at around $26.26. At this price level, over 20,000 addresses have sold more than 40 million LINK.

Image: IntoTheBlock 

LINK/USD volume chart 122821

The 4-hour Chainlink price chart shows us that after dropping to $18.45 on the 20th, LINK pushed up significantly, pushing above the 20 and 50-bar SMAs and settling at $19.44 on the 22nd. The price continued to push higher from this level, rising to $20.49, before registering a marginal drop. LINK then pushed up to $22.18 on the 24th, pushing above the 200-bar SMA. LINK was able to stay at this level for the subsequent few sessions before dropping to $21.47, slipping back below the 200-bar SMA. The price then rose back above the SMA, rising to $21.98, before dropping back below the 20 and 200-bar SMAs and settling at $21.21. From this level, LINK surged back above the two SMAs, rising to its current level of $23.

The Parabolic SAR and MACD are both currently bullish, indicating that the price could push higher.

Image: LINK/USD 4-hour

LINK/USD 4-hour chart 122821

Chainlink Price Is Expected To Reach These Levels

The Chainlink price chart shows us that LINK has been quite bullish in recent sessions, with the price up during the ongoing session as well. If the current sentiment persists, we could see LINK push towards the resistance at $25.