The popular altcoin Chainlink (LINK) grew by 15% and crossed many barriers around $ 16.20, similar to Bitcoin and Ethereum. The price is testing a major hurdle at $ 18.00 and above that level it could test $ 20.00.



Chainlink token price shows many positive signs above the $ 16.20 level against the US Dollar.

The price is currently testing the $ 18.00 resistance and is well above the 100 simple moving average.

There was a break above a key bearish trend line with resistance at $ 16.20 on the 4-hour chart of the LINK / USD pair.

If there is a clear break above the $ 18.00 level, the price is likely to accelerate higher.


Chainlink (LINK) rally could gain momentum

Over the past few sessions, there has been a steady increase in Bitcoin, Ethereum, Bitcoin Cash, Chainlink (LINK) and other major altcoins. LINK price crossed a major hurdle around $ 16.20 to start the current upward movement.

There was a break above a key bearish trend line with resistance at $ 16.20 on the 4-hours chart of the LINK / USD pair. The pair climbed above $ 17.00 and even climbed above the $ 18.00 resistance level.

It looks like the price is struggling to move above the $ 18.00 level again. A high was formed around $ 18.75 and the price is currently correcting lower. The price is trading below $ 18.00. Initial support on the downside is near the $ 17.25 level.

See Also
January 16 EOS, BAT and Dogecoin price analysis: Will they attract attention in the Altcoin season?

On the upside, the $ 18.00 zone is an important breakout area. The next major resistance for LINK is near the $ 18.50 level. A close above the $ 18.00 and $ 18.50 levels could open the doors for a bigger increase in the near term. The next stop could be $ 20.00 followed by $ 20.40.


Technical indicators

4-hour MACD – The MACD for LINK / USD is gaining momentum in the bullish zone.

4-hour RSI (Relative Strength Index) – The RSI for LINK / USD is currently near the 70 level.

Support Levels – $ 17.25, $ 16.20 and $ 15.60.

Resistance Levels – $ 18.00, $ 18.50 and $ 20.00.


Please enter your comment!
Please enter your name here