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ChainLink Price Analysis – LINK Price Stalled at $4 resistance

LINK the 12th Ranked Cryptocurrency with a $1.3 billion market was unable to make it to $4, currently trading at $3.85. 

Since it Kicked of $2.2 in April the market has bullish corrections and in 2 days it also managed to break the Resistance of $3.7. The market anyway shows a Significant momentum in today’s market with 2% high and Swinging from $3.60 to $3.90. 

Will it make it to $4? 

The Next Resistance level is $5.00, $4.50, $4.00 and Support is at $3.66, $3.00, $2.66. 

The Chart and Reports are inline with the records from april and show a Bullish trend ahead despite the bearish correction. 

Well, if LINK manages to drop to its first support of $3.66 due to its low trading volume, the price can retrain back to 3 weeks to $3.20 which will have lower support further. 

If the buyer’s tendency is increased, LINK has a picture to break the $4.5 line and go beyond its RSI at $5, but we can anticipate the Bull run only above the Support of $3.66. 

You can Buy Some LINK and Hold for the future. 

Also, read Price Analysis of your favorite coin

The Technical figures are Good 

The asset MACD level will show a Bullish Zone to Sustain which is a good sign. But, quien critical which also says that the trend can face bearish correction. 

Downtrend nature is shown with om 24hr RSI and if the level goes below 40, the bears will have a treat. 

Recently

Chainlink Partnered up with  Kava a decentralized finance (Defi) platform that offers multiple assets such as stablecoins, loans, and other financial services dealing with cryptocurrency. 

They have now formed a long-term relationship with which is a decentralized oracle network. The relationship between the two was established keeping in mind the increasing trend in the use of cryptocurrency. This, however, is the first time Kava is partnering with a network making Chain Link its official/default network

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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