{"id":29100,"date":"2023-09-04T05:52:42","date_gmt":"2023-09-04T09:52:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29100"},"modified":"2023-09-04T05:52:42","modified_gmt":"2023-09-04T09:52:42","slug":"link-price-prediction-chainlink-needs-to-clear-6-25-for-hopes-of-a-fresh-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/04\/link-price-prediction-chainlink-needs-to-clear-6-25-for-hopes-of-a-fresh-rally\/","title":{"rendered":"LINK Price Prediction: Chainlink Needs To Clear $6.25 For Hopes of a Fresh Rally"},"content":{"rendered":"

Chainlink\u2019s LINK price is holding the $5.75 support zone. The price could start a fresh increase if it clears the $6.25 resistance zone.<\/em><\/p>\n

Chainlink token price is showing positive signs above $6.0 against the US dollar.
\nThe price is trading above the $6.05 level and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).
\nThe price could gain bullish momentum above the $6.25 resistance zone.<\/p>\n

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

After a major decline, LINK price found support near the $5.75 zone against the US Dollar. A low was formed near $5.74 and the price is now attempting a recovery wave, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a decent move above the $5.85 and $6.00 levels. LINK is now trading above the $6.05 level and the 100 simple moving average (4 hours). However, there are many hurdles on the upside starting with $6.10. Besides, there is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK\/USD pair.<\/p>\n

The current price action suggests that the price is struggling near the trend line and $6.10. The first major resistance is near the $6.25 zone. It is close to the 23.6% Fib retracement level of the downward move from the $7.91 swing high to the $5.74 low.<\/p>\n\n

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

A clear break above $6.25 may possibly start a fresh increase toward the $6.65 and $6.80 levels. The next major resistance is near the $7.10 level, above which the price could revisit $7.50.<\/p>\n

Another Decline Losses?<\/h2>\n

If Chainlink\u2019s price fails to climb above the $6.25 resistance level, there could be a downside extension. Initial support on the downside is near the $6.00 level.<\/p>\n

The next major support is near the $5.75 level, below which the price might test the $5.60 level. Any more losses could lead the price toward the $5.35 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $6.00 and $5.75.<\/p>\n

Major Resistance Levels \u2013 $6.25 and $6.80.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Chainlink\u2019s LINK price is holding the $5.75 support zone. The price could start a fresh increase if it clears the $6.25 resistance zone.<\/em><\/p>\n

Chainlink token price is showing positive signs above $6.0 against the US dollar.
\nThe price is trading above the $6.05 level and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).
\nThe price could gain bullish momentum above the $6.25 resistance zone.<\/p>\n

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

After a major decline, LINK price found support near the $5.75 zone against the US Dollar. A low was formed near $5.74 and the price is now attempting a recovery wave, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a decent move above the $5.85 and $6.00 levels. LINK is now trading above the $6.05 level and the 100 simple moving average (4 hours). However, there are many hurdles on the upside starting with $6.10. Besides, there is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK\/USD pair.<\/p>\n

The current price action suggests that the price is struggling near the trend line and $6.10. The first major resistance is near the $6.25 zone. It is close to the 23.6% Fib retracement level of the downward move from the $7.91 swing high to the $5.74 low.<\/p>\n

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

A clear break above $6.25 may possibly start a fresh increase toward the $6.65 and $6.80 levels. The next major resistance is near the $7.10 level, above which the price could revisit $7.50.<\/p>\n

Another Decline Losses?<\/h2>\n

If Chainlink\u2019s price fails to climb above the $6.25 resistance level, there could be a downside extension. Initial support on the downside is near the $6.00 level.<\/p>\n

The next major support is near the $5.75 level, below which the price might test the $5.60 level. Any more losses could lead the price toward the $5.35 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $6.00 and $5.75.<\/p>\n

Major Resistance Levels \u2013 $6.25 and $6.80.<\/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-29100","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\/29100","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=29100"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29100\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29100"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}