Chainlink price analysis: Bullish momentum revives LINK value up to the $13.3 mark

TL;DR Breakdown

  • Chainlink price analysis is bullish today.
  • Support for LINK is present at $12.9.
  • Resistance for coin price is found at $14.

The Chainlink price analysis shows that the bulls have succeeded in making a comeback during the last 24-hours after two days of bearish interval. A significant amount of increase in LINK value has been observed as the price has increased up to $13.3 because of the latest upturn. The past few weeks proved detrimental for the overall coin value, and even the last week shows mixed results, but today the situation is turning favorable for the buyers because of the increasing trend.

LINK/USD 1-day price chart: Price upgrades up to $13.3 after bullish uplift

The one-day Chainlink price analysis is showing signs of a bullish trend as more buying activity has taken place in the last 24-hours. The buyers are active today and putting in their efforts to maintain the bullish trend, and the price has been uplifted to $13.3. Although the last two weeks proved not so favorable for LINK market value, the trend has changed today and has brought positive consequences. The price yet has to cross the moving average (MA) value, i.e., $13.3, just a point above.

Chainlink price analysis: Bullish momentum revives LINK value up to the $13.3 mark 1
LINK/USD 1-day price chart. Source: TradingView

The volatility is high as the upper Bollinger band value is trading at $15.4, representing the resistance, whereas the Lower Bollinger band value is present at $12.3, representing the support. The Relative Strength Index (RSI) score is now touching index 42 after the latest bullish activity.

Chainlink price analysis: Recent developments and further technical indications

The four hours Chainlink price analysis confirms that the cryptocurrency has been following an uptrend for the past 12 hours. The bulls have been leading the market for a while, although a gradual drop in price was also observed earlier yesterday. But now, the bulls are back on track as the price has been rescued up to the $13.3 mark. The moving average value in the four hours price chart has been maintained at $13.2 below the price level.

Chainlink price analysis: Bullish momentum revives LINK value up to the $13.3 mark 2
LINK/USD 4-hour price chart. Source: TradingView

The Bollinger Bands Indicator is now showing the following values; the upper Bollinger band value is $414.2, whereas the lower Bollinger band value is $12.69. The RSI score is now hovering at the neutral zone’s center and is trading at index 48.

Chainlink price analysis: Conclusion

The daily and hourly predictions for Chainlink price analysis are supporting the buyers today as a bullish price movement is taking place. The price is on its way to recovery and has increased up to $13.3 because of the upward trend. If the bulls remain persistent, further improvement in the coin value is to follow in the approaching week.


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