NewsBTC 2024-03-11 04:58:43

LINK Price Regains Strength, Why Chainlink Could Surge Over 10%

Chainlink’s LINK price is moving higher above the $20.00 resistance. The price is now up over 5% and might aim for a move toward the $25.00 resistance. Chainlink price is showing positive signs above $20.00 against the US dollar. The price is trading above the $20.50 level and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $20.00 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could rally further if it clears the $22.00 resistance zone. Chainlink (LINK) Price Eyes More Upsides In the past few sessions, Chainlink bulls were able to send the price above a few key hurdles at $18.50. Earlier, LINK price formed a base above the $16.75 and started a fresh increase. There was a break above a key bearish trend line with resistance near $20.00 on the 4-hour chart of the LINK/USD pair. The bulls pumped the pair above the $22.00 level. A new multi-month high was formed at $22.85 before the price started a downside correction. There was a move below the $22.00 level. The price declined below the 23.6% Fib retracement level of the upward move from the $16.75 swing low to the $22.85 high. LINK is now trading above the $20.50 level and the 100 simple moving average (4 hours). The price is up over 5% and outpacing both Bitcoin and Ethereum. If the bulls remain in action, the price could rise further. Immediate resistance is near the $21.80 level. Source: LINKUSD on TradingView.com The next major resistance is near the $22.00 zone. A clear break above $22.00 may possibly start a steady increase toward the $23.00 and $24.20 levels. The next major resistance is near the $24.80 level, above which the price could test $25.00. Are Dips Limited? If Chainlink’s price fails to climb above the $22.00 resistance level, there could be a downside correction. Initial support on the downside is near the $21.00 level. The next major support is near the $20.00 level or the 50% Fib retracement level of the upward move from the $16.75 swing low to the $22.85 high, below which the price might test the $18.80 level. Any more losses could lead LINK toward the $17.65 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. Major Support Levels – $21.00 and $20.00. Major Resistance Levels – $22.00 and $23.00.

Наиболее читаемые новости

Top cryptocurrencies to watch this week: NOT,...
2024-06-02
Banking Associations Support Resolution to Ov...
2024-06-02
One Year After Presidency Change, Crypto Regu...
2024-06-02
Meme coin mania: tracking the surge of Dogeco...
2024-06-02
Short-selling opportunity as this crypto regi...
2024-06-02
Bullish Optimism Soars as Dogecoin Whales Spl...
2024-06-02
Artificial Superintelligence Alliance Combine...
2024-06-02
These two cryptocurrencies show recovery pote...
2024-06-02

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения