Chainlink price prediction: price to retest $10.0 support level.

TL;DR Breakdown

  • Chainlink price currently at $12.14731.
  • Price action bearish on both short and mid-term chart.
  • LINK price expected to decline further before finding support.

Chainlink price prediction: Today’s price overview

Chainlink price opened at $12.608 with slight bearish momentum that dominated the markets throughout the day. The buyers failed to muster any real momentum despite multiple attempts at defending support levels. Currently, the asset is trading at $12. showing a percent decline from the day’s opening price.

Chainlink price across the last 24 hours

Chainlink price prediction: price to retest $10.0 support level. 1

Chainlink price had a rough start to the day as the first candle brought the price down to the $12.40 level. The buyers initiated a reversal but could not gather enough momentum, and the price went bearish after reaching $12.92. Between 02:30 and 07:30 UTC, the buyers defended the $12.45 support level but were exhausted, and the price continued its decline.

After the rejection, the price declined to the $12.00 price level, which has acted as a support level for the price until now. The price has been moving in a crisscross pattern since then.

The MACD is bullish on the short-term chart, but the two EMAs move close together, suggesting that a turnover might be at hand. Meanwhile, the RSI remains neutral and does not issue any signals.

LINK USD November chart

Chainlink price prediction: price to retest $10.0 support level. 2

Chainlink price started the month at $11.20 with a lack of momentum on both sides. The buyers initially tried to start a rally but failed due to a lack of momentum. The price action went bearish but found key support at $9.80, at which point the buyers initiated a trend reversal. The price ascended above $13.0 but failed to maintain support at the level and fell back to $11.50.

The price action consolidated for the next week as the indicators went from overpriced to neutral territory. On November 16, the momentum turned towards the buyers as wave-like bullish activity elevated the price. The price action met resistance above $14.0 but continued climbing to $16.0 after a short correction. On November 24, the price crossed the $16.0 mark but, despite numerous attempts, failed to close above the level and was rejected as it declined back to a support level below $11.50.

On the technical indicators, the MACD is bearish but indicates a bullish reversal coming as the two EMAs converge. Meanwhile, the RSI is hovering close to the oversold mark suggesting a bullish reversal might be close.

As price hovers close to $11.50 support, buyers have the opportunity to start a trend reversal. On the other hand, if the price declines, buyers will not find strong support until $9.78

Chainlink price prediction: Where is LINK price heading?

Chainlink price prediction: price to retest $10.0 support level. 3

Chainlink price started the year at $1.791, which turned out to be one of the year’s lowest price levels as the bulls controlled the price action for the latter part of the year. LINK price opened with slight bullish momentum that enabled the price to climb to $5.00. However, the buyers failed to cross the level, and the price fell to $1.40 before finding support.

Between March and August, the price witnessed a wave-like movement with buyers dominating the markets. In August, the buyers found strong support at $6.66 and initiated a bull rally that carried the price above $1990. Buyers were met with strong resistance at the level which sent the price crashing. The price bottomed out at $7.50 before rising again.

On the technical indicators, the RSI is currently neutral but suggests LINK may become oversold if the price declines further below. Meanwhile, the MACD has crossed over to bearish territory, but the signal remains weak as the two EMAs hover close.

Currently, support on the long-term chart lies near the $10.0 level. With a bearish MACD and a declining RSI, traders can expect the price to retest the $10.0 support level. However, the downwards momentum is expected to be short-lived, with the $10.0 level becoming a support for buyers to initiate another bull rally.

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