Chainlink price analysis shows that LINK prices are currently bullish as the price goes above $7.23 and has gained 3.28 percent in the last 24 hours. The support is present at $6.97, while the resistance is present at $7.25. The market is expected to continue on an uptrend as long as the support holds. However, if the resistance breaks, it could lead to a further increase in prices. The digital asset is currently trading between $7.1392 and $7.23, as the bulls are trying to push the price higher. The bears are trying to lower the price, but they have been unsuccessful as the bulls remain in control. The market capitalization of the asset currently stands at $3.74 billion, and the trading volume in the last 24 hours has been $181 million.
Chainlink price analysis 1-day chart: The LINK price surges above $7.23 after a strong bullish run
The 1-day Chainlink price analysis indicates that the price will likely continue its uptrend as long as the support levels hold. The buyers are actively buying in the market, and there is no sign of selling pressure from the bears. Furthermore, looking at technical indicators, Chainlink’s Relative Strength Indicator (RSI) is currently at 44.94, suggesting it remains in the neutral zone.
The Bollinger Bands show that the prices are currently trading near the upper band, which indicates that the prices are facing buying pressure at higher levels. The upper band is at $8.2356, while the lower band is at $6.4238. The 50 MA is above the 100 MA, which suggests that the prices may continue their uptrend in the near future.
LINK/USD 4-hour price chart: The bullish trend looks to break above the $7.25 resistance.
On the 4-hour chart, Chainlink price analysis has formed a bullish flag pattern. This is a continuation pattern that indicates that prices may continue to move higher if the resistance at $7.25 is broken. The prices are trading in an ascending triangle pattern, which is a bullish pattern. The volatility in the 4-hour chart is also increasing, which suggests that the bulls are likely to take control of the market. The Bollinger band is converging, which is also a sign of bullishness in the market.
The upper band of the Bollinger Bands is currently at $7.2026, while the lower band is at $6.8627. The relative strength index (RSI) is in bullish territory, which indicates that the bulls are in control of the market. The RSI is currently at 59.89, which indicates the market is neither overbought nor oversold. The 50 MA is at $7.234 and is above the 10 MA, which is at $7.169.
Chainlink price analysis conclusion
Overall, Chainlink’s price analysis suggests that prices are likely to continue on an uptrend as long as the support levels hold. The technical indicators are also in favor of the bulls. The prices are expected to continue to rise in the near term, with the next target being the $7.32 level. The bulls are currently in control of the market, as prices have been trading above the $7.23 mark.
