{"id":31313,"date":"2023-10-23T05:52:39","date_gmt":"2023-10-23T09:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31313"},"modified":"2023-10-23T05:52:39","modified_gmt":"2023-10-23T09:52:39","slug":"link-price-pumps-40-in-three-days-why-bulls-are-not-done-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/23\/link-price-pumps-40-in-three-days-why-bulls-are-not-done-yet\/","title":{"rendered":"LINK Price Pumps 40% In Three Days, Why Bulls Are Not Done Yet"},"content":{"rendered":"

Chainlink\u2019s LINK price is up over 40% and trading above $10. The bulls seem to be in control and might aim a rally toward the $12 resistance.<\/em><\/p>\n

Chainlink price is gaining pace above the $10.00 resistance against the US dollar.
\nThe price is trading above the $10.00 level and the 100-day simple moving average.
\nThere is a key bullish trend line forming with support near $8.60 on the daily chart of the LINK\/USD pair (data source from Kraken).
\nThe price could continue to move up toward the $11.25 and $12.00 resistance levels.<\/p>\n

Chainlink Price Starts Fresh Rally<\/h2>\n

In the past few days, LINK price started a strong rally against the US Dollar. The price formed a base above the $7.00 level before the bulls stepped in. There was a major pump above the $7.50 and $8.00 resistance levels.<\/p>\n

In the last three days, the price gained over 40% and cleared many hurdles near $9.00. The recent pump in Bitcoin<\/a> also helped LINK surpass the $10.00 resistance. A new multi-week high is formed near $10.99. The price is now consolidating gains well above the 23.6% Fib retracement level of the upward move from the $7.11 swing low to the $10.99 high.<\/p>\n

LINK is now trading above the $10.00 level and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $8.60 on the daily chart of the LINK\/USD pair. The trend line is near the 61.8% Fib retracement level of the upward move from the $7.11 swing low to the $10.99 high.<\/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 $11.20. The first major resistance is near the $12.00 zone. A clear break above $12.00 may possibly start a steady increase toward the $12.20 and $12.50 levels. The next major resistance is near the $13.20 level, above which the price could test $15.00.<\/p>\n

Are Dips Limited in LINK?<\/h2>\n

If Chainlink<\/a> fails to climb above the $11.20 resistance level, there could be a downside correction. Initial support on the downside is near the $10.00 level.<\/p>\n

The next major support is near $9.00, below which the price might test the trend line support at $8.60. Any more losses could lead LINK toward the $8.00 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for LINK\/USD is gaining 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 $10.00 and $9.00.<\/p>\n

Major Resistance Levels \u2013 $11.20 and $12.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Chainlink\u2019s LINK price is up over 40% and trading above $10. The bulls seem to be in control and might aim a rally toward the $12 resistance.<\/em><\/p>\n

Chainlink price is gaining pace above the $10.00 resistance against the US dollar.
\nThe price is trading above the $10.00 level and the 100-day simple moving average.
\nThere is a key bullish trend line forming with support near $8.60 on the daily chart of the LINK\/USD pair (data source from Kraken).
\nThe price could continue to move up toward the $11.25 and $12.00 resistance levels.<\/p>\n

Chainlink Price Starts Fresh Rally<\/h2>\n

In the past few days, LINK price started a strong rally against the US Dollar. The price formed a base above the $7.00 level before the bulls stepped in. There was a major pump above the $7.50 and $8.00 resistance levels.<\/p>\n

In the last three days, the price gained over 40% and cleared many hurdles near $9.00. The recent pump in Bitcoin<\/a> also helped LINK surpass the $10.00 resistance. A new multi-week high is formed near $10.99. The price is now consolidating gains well above the 23.6% Fib retracement level of the upward move from the $7.11 swing low to the $10.99 high.<\/p>\n

LINK is now trading above the $10.00 level and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $8.60 on the daily chart of the LINK\/USD pair. The trend line is near the 61.8% Fib retracement level of the upward move from the $7.11 swing low to the $10.99 high.<\/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 $11.20. The first major resistance is near the $12.00 zone. A clear break above $12.00 may possibly start a steady increase toward the $12.20 and $12.50 levels. The next major resistance is near the $13.20 level, above which the price could test $15.00.<\/p>\n

Are Dips Limited in LINK?<\/h2>\n

If Chainlink<\/a> fails to climb above the $11.20 resistance level, there could be a downside correction. Initial support on the downside is near the $10.00 level.<\/p>\n

The next major support is near $9.00, below which the price might test the trend line support at $8.60. Any more losses could lead LINK toward the $8.00 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for LINK\/USD is gaining 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 $10.00 and $9.00.<\/p>\n

Major Resistance Levels \u2013 $11.20 and $12.00.<\/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-31313","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\/31313","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=31313"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31313\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31313"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}