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Key Highlights
The crypto has a target price of $26
The bulls have broken the resistance at $17
Chainlink (LINK) Current Statistics
The current price: $19.75
Market Capitalization: $19,637,590,383
Trading Volume: $6,365,489,134
Major supply zones: $18.00, $20.00, $22.00
Major demand zones: $8.00, $6.00, $4.00
Chainlink (LINK) Price Analysis January 15, 2021
Chainlink has made a positive move as it rallied to $21. Today, the coin is trading at $19.13 after a pullback. Since January, the upward move has been resisted at the high of $17. The bulls broke the resistance at $17 after three attempts at it. However, a further upward move is doubtful as the RSI reaches level 66. The coin is approaching the overbought region of the market. LINK has no enough room to rally on the upside. Sellers are likely to emerge in the overbought region.
Chainlink Technical Indicators Reading
Chainlink is at level 66 of the Relative Strength Index period 14. The coin is in the uptrend zone and is approaching the overbought region of the market. A bullish trend line is drawn showing the support levels of the market. The downtrend will resume if the price breaks below the bullish trend line.
Conclusion
Chainlink has broken the resistance at $17 as the market reached a high of $21. The Fibonacci tool has indicated a further upward movement of the coin. On January 10 uptrend, a retraced candle body tested the 50% Fibonacci retracements level. The retracement indicates that LINK is likely to rise to level 2.0 Fibonacci extensions. That is the high of level $26.05.
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
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