Chainlink Price Prediction: Will LINK Break Through Key Resistance Levels?

This #Chainlink price prediction follows some interesting movements by $LINK during the past 48 hours. The closing prices have gradually increased from $17.181 to $17.760, before a slight retrace to $17.695. This uptrend is supported by the alignment of the Exponential Moving Averages (EMAs) and other technical indicators, suggesting potential future movements.

The 9 EMA and 20 EMA have both shown a consistent upward trajectory. LINK’s 9 EMA has progressed from $17.100 to $17.395. It has also stayed above the 20 EMA, which moved from $16.940 to $17.151. This pattern typically indicates bullish momentum as the shorter EMA remains above the longer EMA. It also suggests the continuation of the upward trend.

Meanwhile, the Moving Average Convergence Divergence (MACD) values have increased across the latest periods. More specifically, the MACD line has stayed above the signal line. Concurrently, the histogram has widened, particularly in the last period. This could be a sign of strengthening bullish momentum.

LINK’s Relative Strength Index (RSI) has risen from 55.82 to a high of 63.63, before slightly declining to 62.23. This indicates that while the market is approaching overbought conditions, there is still room for upward movement.

LINK’s recent peak at $17.76 is just shy of the immediate resistance at $17.775. A breach above this level could see the altcoin’s price test further resistance at $18.02. On the downside, support is found at $17.675, followed by $17.617 and $17.579. These levels should be watched closely, as they might provide buying opportunities if the price dips but remains in an overall uptrend. #LINK #altcoins #TrendingPredictions
The full analysis and trade strategy were originally posted on ecoinimist.com.