Chainlink (LINK) Price Analysis: LINK Consolidates Above $10, Sellers Threaten to Short


Key Highlights
LINK now fluctuates between levels $10 and $13
The altcoin will further decline to $8.41 if the current support breaks
Chainlink (LINK) Current Statistics
The current price: $11.88
Market Capitalization: $11,840,338,231
Trading Volume: $1,336,398,547
Major supply zones: $18.00, $20.00, $22.00
Major demand zones: $8.00, $6.00, $4.00

Chainlink (LINK) Price Analysis January 1, 2021
Since November 24, Chainlink’s price is making a series of lower lows and lower highs. Presently, in December, the market is fluctuating between levels of $10 and $13. The coin will further depreciate if the $10 support is breached. Conversely, LINK will also resume an upward move if buyers push above level $13 high. The crypto will be range-bound if these levels remain unbroken. The coin is trading marginally at level $11.81 at the time of writing.

LINK/USD – 4 Hour Chart

Chainlink Technical Indicators Reading
Chainlink is at level 46 of the Relative Strength Index period 14. It indicates that the coin is in the downtrend zone. The coin is capable of a further downward move.

LINK/USD – 4 Hour Chart

LINK is confined in a range. The Fibonacci tool indicated a downward movement of the coin. On December 29, a retraced candle body tested the 50% Fibonacci retracements level. The retracement indicates that LINK is likely to fall to level 2.0 Fibonacci extensions. That is the low of level $8.41.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.