In past weeks, the Chainlink (LINK) price showed so much strength against tether (USDT) as the price of Chainlink broke out of a range as price rallied to a high of $10. The price of LINK has recently faced resistance to trend higher as the price eyes weekly support. (Data from Binance)<\/p>\n
Chainlink (LINK) Price Analysis On The Weekly Chart\u00a0<\/p>\n
LINK prices have dropped from around $10 to $7, finding price trading in a range as the price of LINK tries to break out of this region.<\/p>\n
LINK saw a weekly low of $6 as price bounced from this region, currently trading at $7 as price eyes a break out to $10.<\/p>\n
Despite showing a glimpse of strength, the price of LINK found its price rejected as Bitcoin, and other cryptocurrencies suffered a setback affecting the price of other altcoins.<\/p>\n
The price of LINK closed the week with good volume; if LINK maintains this momentum and volume, we could see the price of LINK retesting $10.<\/p>\n
Weekly resistance for the price of LINK \u2013 $8.5.<\/p>\n
Weekly support for the price of LINK \u2013 $6.<\/p>\n
Price Analysis Of LINK On The Daily (1D) Chart After successfully breaking out of the daily channel recently, the LINK price was rejected from $10 to its daily range. The price of LINK needs to break out with good volume to trade above the range; if the price of LINK fails to break above the range, we could see price retesting daily support area to build more volume for buyers.\u00a0<\/p>\n The price of LINK has shown good strength as it closed the daily candle, looking bullish ahead of the day; the price needs to show a more bullish trend to trade higher.<\/p>\n LINK is trading at a current value of $7.1 below the 50 and 200 Exponential Moving Averages (EMA). The prices at $7.3 and $10, which correspond to the 50 and 200 EMA, act as resistance to the LINK price.<\/p>\n Daily (1D) resistance for the LINK price \u2013 $7.3, $10.<\/p>\n Daily (1D) support for the LINK price \u2013 $6.2.<\/p>\n LINK Price Analysis On The One Four-Hourly (4H) Chart The price of LINK in the 4H timeframe continues to look bullish, trading slightly above the 50 and 200 EMA, acting as support levels.<\/p>\n LINK price must remain above this support area to have a good chance of trending higher; with good buy orders, the price could break out of the 23.6% area corresponding to the Fibonacci retracement value<\/a>.\u00a0<\/p>\n If the price of LINK breaks above this range, the price would go to a high of $7.5-$10 with sufficient volume.<\/p>\n On the 4H chart, the Relative Strength Index (RSI) for FIL is above 65, indicating buy order volume for the FIL price.<\/p>\n Four-Hourly (1H) resistance for the LINK price \u2013 $8-$10.<\/p>\n Four-Hourly (1H) support for the LINK price \u2013 $6.2.<\/p>\n Featured Image From Nairametrics, Charts From<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n In past weeks, the Chainlink (LINK) price showed so much strength against tether (USDT) as the price of Chainlink broke out of a range as price rallied to a high of $10. The price of LINK has recently faced resistance to trend higher as the price eyes weekly support. (Data from Binance)<\/p>\n Chainlink (LINK) Price Analysis On The Weekly Chart\u00a0<\/p>\n LINK prices have dropped from around $10 to $7, finding price trading in a range as the price of LINK tries to break out of this region.<\/p>\n LINK saw a weekly low of $6 as price bounced from this region, currently trading at $7 as price eyes a break out to $10.<\/p>\n Despite showing a glimpse of strength, the price of LINK found its price rejected as Bitcoin, and other cryptocurrencies suffered a setback affecting the price of other altcoins.<\/p>\n The price of LINK closed the week with good volume; if LINK maintains this momentum and volume, we could see the price of LINK retesting $10.<\/p>\n Weekly resistance for the price of LINK \u2013 $8.5.<\/p>\n Weekly support for the price of LINK \u2013 $6.<\/p>\n Price Analysis Of LINK On The Daily (1D) Chart After successfully breaking out of the daily channel recently, the LINK price was rejected from $10 to its daily range. The price of LINK needs to break out with good volume to trade above the range; if the price of LINK fails to break above the range, we could see price retesting daily support area to build more volume for buyers.\u00a0<\/p>\n The price of LINK has shown good strength as it closed the daily candle, looking bullish ahead of the day; the price needs to show a more bullish trend to trade higher.<\/p>\n LINK is trading at a current value of $7.1 below the 50 and 200 Exponential Moving Averages (EMA). The prices at $7.3 and $10, which correspond to the 50 and 200 EMA, act as resistance to the LINK price.<\/p>\n Daily (1D) resistance for the LINK price \u2013 $7.3, $10.<\/p>\n Daily (1D) support for the LINK price \u2013 $6.2.<\/p>\n LINK Price Analysis On The One Four-Hourly (4H) Chart The price of LINK in the 4H timeframe continues to look bullish, trading slightly above the 50 and 200 EMA, acting as support levels.<\/p>\n
\nDaily LINK Price Chart | Source: LINKUSDT On Tradingview.com<\/a><\/p>\n
\nFour-Hourly LINK Price Chart | Source: LINKUSDT On Tradingview.com<\/a><\/p>\n
\nDaily LINK Price Chart | Source: LINKUSDT On Tradingview.com<\/a><\/p>\n
\nFour-Hourly LINK Price Chart | Source: LINKUSDT On Tradingview.com<\/a><\/p>\n