Chainlink Price Prediction: LINK is ready for a new all-time high above $20
Chainlink was perhaps the best performing cryptocurrency in 2020 if we are talking about high market capitalization coins. LINK price reached an all-time high of $20.11 on August 16, 2020, which was a 1,300% increase since the low of March. […]
Chainlink was perhaps the best performing cryptocurrency in 2020 if we are talking about high market capitalization coins. LINK price reached an all-time high of $20.11 on August 16, 2020, which was a 1,300% increase since the low of March.
Chainlink price is currently around $17 after a significant breakout in the past two days from $13.37. LINK bulls are eying up a new all-time high as the resistance above seems to be quite weak.
LINK Price Analysis: No hurdles in the way to $20
Looking at the In/Out of the Money Around Price chart, there seem to be almost no barriers on the way up above $17. According to the chart, the most significant resistance area is located between $16.6 and $17.4, something that bulls are currently trying to crack.
On the way down; however, there is a ton of support from $16 down to $14. The most critical support level during the bull rally of Chainlink since April 2020 has been the 200-EMA which was held several times.
LINK/USD daily chart – TradingView
This EMA and the area above and below have served as robust support for LINK price. During the sell-off of January 11, Chainlink price was again close to this area, but the bulls managed to buy the dip before it could touch the 200-EMA.
Lorenzo Stroe
Skilled Journalist and Expert Financial Technology Writer successful at Creating Unique pieces that tell Intriguing stories.
Chainlink was perhaps the best performing cryptocurrency in 2020 if we are talking about high market capitalization coins. LINK price reached an all-time high of $20.11 on August 16, 2020, which was a 1,300% increase since the low of March.
Chainlink price is currently around $17 after a significant breakout in the past two days from $13.37. LINK bulls are eying up a new all-time high as the resistance above seems to be quite weak.
LINK Price Analysis: No hurdles in the way to $20
Looking at the In/Out of the Money Around Price chart, there seem to be almost no barriers on the way up above $17. According to the chart, the most significant resistance area is located between $16.6 and $17.4, something that bulls are currently trying to crack.
On the way down; however, there is a ton of support from $16 down to $14. The most critical support level during the bull rally of Chainlink since April 2020 has been the 200-EMA which was held several times.
LINK/USD daily chart – TradingView
This EMA and the area above and below have served as robust support for LINK price. During the sell-off of January 11, Chainlink price was again close to this area, but the bulls managed to buy the dip before it could touch the 200-EMA.
Lorenzo Stroe
Skilled Journalist and Expert Financial Technology Writer successful at Creating Unique pieces that tell Intriguing stories.
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