Chainlink (LINK) Price Analysis: LINK Sustains Recent Rallies, Battles the $13.50 Overhead Resistance

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Key Highlights
LINK battles resistance at $13.50
The coin has a targets price of $17

Chainlink (LINK) Current Statistics
The current price: $12.77
Market Capitalization: $5,000,418,623
Trading Volume: $1,274,018,688
Major supply zones: $18.00, $20.00, $22.00
Major demand zones: $8.00, $6.00, $4.00

Chainlink (LINK) Price Analysis November 13, 2020
On November 7, LINK traded and reached its peak price at $13.46 high. Buyers have not able to sustain the upward move. At the initial resistance, the coin fell to the low at $11.50. The price is corrected upward as buyers retested the overhead resistance twice.

The coin is fluctuating between $12 and $13.50 as the crypto resumes sideways move. The coin is trading at $12.70 at the time of writing. The upside momentum will resume if the price level is sustained above $12 high. A breakout at the overhead resistance will push the price to $17 or $19 high. The downtrend will resume if the bears break below the $12 support level. There is a likelihood of the coin falling to an $8 low.

LINK/USD – Daily Chart

Chainlink Technical Indicators Reading
The price bars are above the 21-day SMA and 50-day SMA which indicates a possible upward move of the coin. The coin is at level 58 of the Relative Strength Index period 14. The coin is in the uptrend zone and above the centerline 50.

LINK/USD – 4 Hour Chart

Conclusion
Buyers have made positive moves in November. The coin will achieve price acceleration once the resistance at $13.50 is breached. On November 7 uptrend; the coin was resisted at $13.50. The retraced candle body tested the 50% Fibonacci retracement level. This indicates that LINK will rise and reach level 2.0 Fibonacci extension or the high of $17.30.



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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

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.

Leave a Reply

Your email address will not be published. Required fields are marked *