{"id":30174,"date":"2023-09-27T06:05:14","date_gmt":"2023-09-27T10:05:14","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30174"},"modified":"2023-09-27T06:05:14","modified_gmt":"2023-09-27T10:05:14","slug":"link-price-extends-increase-will-chainlink-bulls-be-able-to-hit-8-5-milestone","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/27\/link-price-extends-increase-will-chainlink-bulls-be-able-to-hit-8-5-milestone\/","title":{"rendered":"LINK Price Extends Increase, Will Chainlink Bulls Be Able to Hit $8.5 Milestone?"},"content":{"rendered":"

Chainlink\u2019s LINK price is moving higher above the $7.25 resistance. The price is now consolidating gains and might aim for more upsides above $7.50.<\/em><\/p>\n

Chainlink price is showing positive signs above $7.25 against the US dollar.
\nThe price is trading above the $7.30 level and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $7.25 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).
\nThe price could restart its increase unless there is a close below the $6.95 support.<\/p>\n

Chainlink (LINK) Price Eyes More Upsides<\/h2>\n

In the last LINK price prediction<\/a>, we discussed the chances of more gains above the $7.00 level against the US Dollar. The price did remain stable and extended gains above the $7.25 level.<\/p>\n

The price even broke the $7.50 level. Chainlink traded as high as $7.56 and outperformed Bitcoin<\/a> and Ethereum<\/a>. Recently, there was a minor downside correction below $7.40. The price tested the 23.6% Fib retracement level of the upward move from the $6.60 swing low to the $7.56 high.<\/p>\n

LINK is now trading above the $6.50 level and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $7.25 on the 4-hour chart of the LINK\/USD pair.<\/p>\n

<\/a><\/p>\n

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

If there is a fresh increase, the price might face resistance near $7.45. The first major resistance is near the $7.50 zone. A clear break above $7.50 may possibly start a steady increase toward the $8.00 and $8.20 levels. The next major resistance is near the $8.50 level, above which the price could test $8.80.<\/p>\n

Are Dips Limited?<\/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 $7.25 level.<\/p>\n

The next major support is near the $6.95 level or the 61.8% Fib retracement level of the upward move from the $6.60 swing low to the $7.56 high, below which the price might test the $6.80 level. Any more losses could lead LINK toward the $6.60 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 bullish 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 $7.25 and $6.95.<\/p>\n

Major Resistance Levels \u2013 $7.50 and $8.50.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Chainlink\u2019s LINK price is moving higher above the $7.25 resistance. The price is now consolidating gains and might aim for more upsides above $7.50.<\/em><\/p>\n

Chainlink price is showing positive signs above $7.25 against the US dollar.
\nThe price is trading above the $7.30 level and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $7.25 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).
\nThe price could restart its increase unless there is a close below the $6.95 support.<\/p>\n

Chainlink (LINK) Price Eyes More Upsides<\/h2>\n

In the last LINK price prediction<\/a>, we discussed the chances of more gains above the $7.00 level against the US Dollar. The price did remain stable and extended gains above the $7.25 level.<\/p>\n

The price even broke the $7.50 level. Chainlink traded as high as $7.56 and outperformed Bitcoin<\/a> and Ethereum<\/a>. Recently, there was a minor downside correction below $7.40. The price tested the 23.6% Fib retracement level of the upward move from the $6.60 swing low to the $7.56 high.<\/p>\n

LINK is now trading above the $6.50 level and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $7.25 on the 4-hour chart of the LINK\/USD pair.<\/p>\n

<\/a><\/p>\n

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

If there is a fresh increase, the price might face resistance near $7.45. The first major resistance is near the $7.50 zone. A clear break above $7.50 may possibly start a steady increase toward the $8.00 and $8.20 levels. The next major resistance is near the $8.50 level, above which the price could test $8.80.<\/p>\n

Are Dips Limited?<\/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 $7.25 level.<\/p>\n

The next major support is near the $6.95 level or the 61.8% Fib retracement level of the upward move from the $6.60 swing low to the $7.56 high, below which the price might test the $6.80 level. Any more losses could lead LINK toward the $6.60 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 bullish 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 $7.25 and $6.95.<\/p>\n

Major Resistance Levels \u2013 $7.50 and $8.50.<\/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-30174","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\/30174","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=30174"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30174\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30174"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}