💥💥💥 #Chainlink Price Eyes $20 Amid Bullish Market Recovery Signals; More Gains Ahead?
Chainlink ($LINK ) Trading Near Key Support Levels with #BullishSigns
- Chainlink (LINK), a key player in the layer-2 blockchain space, is currently trading near crucial support levels, showing signs of bullish tendencies. Despite the ongoing battle between bulls and bears, LINK is following a bullish trading pattern, indicating the asset may be in a consolidation phase as the market seeks stability.
Chainlink Price Rises as LINK Eyes Further Gains
- Amid the recent market recovery, LINK is showing a positive trend, though it still faces challenges. The price action suggests that the asset is trying to regain momentum while maintaining a cautious stance within the broader market environment.
- At the time of writing, LINK is priced at $11.29, reflecting a 6% increase over the last 24 hours. After hitting a low of $10.66, LINK rebounded to a high of $11.45. This recent upward movement comes during a volatile week marked by significant fluctuations, with both sharp declines and recoveries.
- Daily technical indicators for LINK have also turned bullish in recent hours. The Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover, as the MACD line (blue) has moved above the signal line (orange). This typically indicates that bullish momentum is currently stronger than bearish momentum.
- Data from Coinglass reveals a surge in trading activity for Chainlink in recent sessions. Trading volume has jumped by 75%, reaching $402 million, while open interest has increased by 14% to $168 million. This rise in both volume and open interest reflects heightened investor attention and speculative interest in LINK's market movements.
- Looking ahead, LINK faces strong resistance at the $12 level. If bullish momentum continues to build, the price could push toward $15, and with sustained pressure, LINK may even aim for $20.
Source - coingape.com
