Amid the ongoing bullish recovery in the crypto space, the altcoin market has added significant valuation in a short period. Moreover, bluechip altcoins such as Chainlink successfully reclaimed its important resistance level of $23, highlighting increased positive influence.
Considering the present market sentiments, will LINK price achieve a new ATH this AltSeason? In this article, we have covered the latest Chainlink price analysis to understand the possible short-term price prospects!
The Chainlink price has surged 7.28% in 24 hours with a trading volume of $982.36 million, a change of +44.73%. Furthermore, it has soared 17.69% over the last seven days and has rewarded its investors with a YTD return of +17.89%.
The Moving Average Convergence Divergence (MACD) displays a rising green histogram with its averages witnessing a bullish convergence. This suggests increased buying pressure for the Chainlink crypto token in the market.
Furthermore, the Simple Moving Average (SMA) shows a positive crossover in the Chainlink price chart. This highlights that the LINK coin price may continue gaining value in the coming time.
If the market maintains its bullish action, the Chainlink price will test its upper resistance level of $26. Furthermore, if the bullish sentiment intensifies, this could push the price of LINK toward its upper resistance level of $29.
On the contrary, if the bears regain momentum, the Chainlink coin price could retest its support level of $23. Moreover, if the bears dominate the market, this could result in it plunging toward its lower support level of $20 this month.
Curious to find out answers to questions like “Will LINK ever reach $1000?” Read our Chainlink Price Prediction to find out the long-term price mysteries!
Amid increased bullish sentiment, the LINK price could conclude the year with an annual high of 47.
With increased bullish price action, the LINK crypto price could hit this price target in 2025.
At the time of writing, the value of one LINK crypto token was $23.38.
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