Thursday, September 21, 2023
HomeNewsVideoChainlink Price Prediction: Countertrend moves towards the mid-$7.00 zone

Chainlink Price Prediction: Countertrend moves towards the mid-$7.00 zone

  • Chainlink price rose by 3% over the weekend.
  • The Volume Profile Indicator shows bullish strength.
  • Invalidation of the bearish thesis is a breach above $7.62.

Chainlink price shows upside potential. Key levels have been defined.

Chainlink price to challenge the bears

Chainlink price is showing evidence of a continuation of the current countertrend rally. Since the weekend, the LINK price has risen by 3%, producing a large bullish engulfing candle. An influx of volume accompanies the trend.

Chainlink price currently trades at $6.95. The bulls are trying to hurdle through the psychological $7 level, but the 8-day exponential moving average is currently acting as resistance. If the bulls can hurdle the barrier, all signs would point to a go. LINK price could rally towards $7.25 for an additional 20% hike.


LINKUSDT 30-Minute Chart

Invalidation of the bullish thesis is a breach below the recent $6.80 swing low established on October 21. If the bears breach this level, the uptrend scenario will be deemed invalid. Doing so could result in about a 20% decline toward previous liquidity levels near $5.70.

In the following video, our analysts deep dive into the price action of Solana, analyzing key levels of interest in the market.

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NamePrice24H (%)
Bitcoin (BTC)
Ethereum (ETH)
Solana (SOL)

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