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Price action in the Chainlink market has moved by a significant 4.36% today. Yet, price action in this market seems to still have the juice to keep it moving in its upside tracks. Let’s see how things may develop in this market shortly.
LINK Statistics
Chainlink Value Now: $7.241
Chainlink Market Cap: $3,898,834,716
LINK Circulating Supply: 538,099,970
Chainlink Total Supply: 1,000,000,000
LINK CoinMarketCap Ranking: 21
Major Price Levels:
Top: $7.241, $7.350, and $7.500
Base: $7.200, $7.150, and $7.100
Chainlink Price Action Begins a New Session on a Positive Note
The price in Chainlink market activities has been occurring above the 9- and 21-day MA lines for about five sessions till now. However, this market seemed to regain a significant upside orientation in the previous trading session. And, at this point, it appears that this market may yet experience more upside price increases.
This can be seen as another trading session beginning in favor of buyers, as indicated by the last price candle on this chart. Additionally, the Stochastic Relative Strength Index (RSI) indicator seems to have just indicated a bullish crossover. By implication, this market may advance towards higher price marks as we proceed.
LINK Price Movement Maintains Upside Focus
Even in the 4-hour market, it could be seen that LINK price action is maintaining its acquired upside target. It could be observed that price action has been gradually gaining higher support by looking at the drawn trendline.
Also, the steepness of the upside retracement can be seen to have increased in recent trading sessions, and this has lifted the price action from the trendline, as it obtained higher support. For about two sessions ago, price activities rose above the MA lines, and this upside move has extended till now.
Meanwhile, the RSI lines keep rising steeply towards the overbought region, which suggests that the ongoing session seems ready to approach the $7.500 mark.
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