{"id":28159,"date":"2023-08-14T07:52:36","date_gmt":"2023-08-14T11:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28159"},"modified":"2023-08-14T07:52:36","modified_gmt":"2023-08-14T11:52:36","slug":"link-price-prediction-chainlink-hints-at-potential-rally-to-8","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/14\/link-price-prediction-chainlink-hints-at-potential-rally-to-8\/","title":{"rendered":"LINK Price Prediction: Chainlink Hints At Potential Rally To $8"},"content":{"rendered":"

Chainlink\u2019s LINK price is holding the $7.30 support zone. The price could start a fresh increase if it clears the $7.50 resistance zone.<\/em><\/p>\n

Chainlink token price is showing positive signs above $7.30 against the US dollar.
\nThe price is trading above the $7.40 level and the 100 simple moving average (4 hours).
\nThere is a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).
\nThe price could gain bullish momentum above the $7.50 resistance zone.<\/p>\n

Chainlink (LINK) Price Eyes Fresh Increase<\/h2>\n

After a strong increase, LINK price faced sellers near the $7.90 zone against the US Dollar. A high was formed near $7.91 and the price started a downside correction, unlike Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move below the $7.60 and $7.50 levels. The price declined below the 50% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. The price also spiked below the $7.40 level. However, the bulls are active near the $7.30 support.<\/p>\n

LINK is trading above the 61.8% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. It is also above the $7.40 level and the 100 simple moving average (4 hours).<\/p>\n\n

Source: LINKUSD on TradingView.com<\/a><\/p>\n

It is now facing resistance near the $7.50 level. There is also a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK\/USD pair. The first major resistance is near the $7.685 zone. A clear break above $7.685 may possibly start a fresh increase toward the $7.90 and $8.00 levels. The next major resistance is near the $8.20 level, above which the price could revisit $8.50.<\/p>\n

More Losses?<\/h2>\n

If Chainlink\u2019s price fails to climb above the $7.50 resistance level, there could be a downside extension. Initial support on the downside is near the $7.30 level.<\/p>\n

The next major support is near the $7.15 level, below which the price might test the $7.00 level. Any more losses could lead the price toward the $6.85 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for LINK\/USD is losing momentum in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is now near the 50 level.<\/p>\n

Major Support Levels \u2013 $7.30 and $7.15.<\/p>\n

Major Resistance Levels \u2013 $7.50 and $7.685.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Chainlink\u2019s LINK price is holding the $7.30 support zone. The price could start a fresh increase if it clears the $7.50 resistance zone.<\/em><\/p>\n

Chainlink token price is showing positive signs above $7.30 against the US dollar.
\nThe price is trading above the $7.40 level and the 100 simple moving average (4 hours).
\nThere is a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).
\nThe price could gain bullish momentum above the $7.50 resistance zone.<\/p>\n

Chainlink (LINK) Price Eyes Fresh Increase<\/h2>\n

After a strong increase, LINK price faced sellers near the $7.90 zone against the US Dollar. A high was formed near $7.91 and the price started a downside correction, unlike Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move below the $7.60 and $7.50 levels. The price declined below the 50% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. The price also spiked below the $7.40 level. However, the bulls are active near the $7.30 support.<\/p>\n

LINK is trading above the 61.8% Fib retracement level of the upward move from the $6.932 swing low to the $7.915 high. It is also above the $7.40 level and the 100 simple moving average (4 hours).<\/p>\n

Source: LINKUSD on TradingView.com<\/a><\/p>\n

It is now facing resistance near the $7.50 level. There is also a key declining channel forming with resistance near $7.50 on the 4-hour chart of the LINK\/USD pair. The first major resistance is near the $7.685 zone. A clear break above $7.685 may possibly start a fresh increase toward the $7.90 and $8.00 levels. The next major resistance is near the $8.20 level, above which the price could revisit $8.50.<\/p>\n

More Losses?<\/h2>\n

If Chainlink\u2019s price fails to climb above the $7.50 resistance level, there could be a downside extension. Initial support on the downside is near the $7.30 level.<\/p>\n

The next major support is near the $7.15 level, below which the price might test the $7.00 level. Any more losses could lead the price toward the $6.85 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for LINK\/USD is losing momentum in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is now near the 50 level.<\/p>\n

Major Support Levels \u2013 $7.30 and $7.15.<\/p>\n

Major Resistance Levels \u2013 $7.50 and $7.685.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-28159","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=28159"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28159\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28159"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}