Annual Forecast for Chainlink (2021): LINK Is Presumed to Rise Above the Current Price Level

Annual Forecast for Chainlink (2021): LINK Is Presumed to Rise Above the Current Price Level

Major Supply Zones: $18.00, $20.00, $22.00
Major Demand Zones: $8.00, $6.00, $4.00

In 2020, Chainlink has been in an upward move. In January, the crypto has an opening balance of $1.76 and it rose to a high of $4.88 in February. Buyers could not continue with the upward move, as they face resistance in March. After the breakdown in March, the crypto resumed a fresh uptrend in April. The uptrend reached the month of August at a high of $20. In August, the upward move was resisted as the coin faced resistance. In subsequent months the coin resumed a sideways move below the overhead resistance.

LINK/USD – Monthly Chart

Chainlink (LINK) Price Prediction: Monthly Chart
A bullish trend line is drawn showing the support levels of the market. The current uptrend is presumed to be ongoing if the trend line remains unbroken. However, if the price breaks and closes below the trend line, it is assumed the current trend is terminated.

LINK/USD – Weekly Chart

Chainlink (LINK) Price Prediction: Weekly Chart
The market is also in an upward move but the resistance of $5 was broken for the continuity of the uptrend. Meanwhile, after testing the resistance zone, the LINK is now in a sideways move.

Conclusion
This year, the crypto upward move has been sustained and the coin is trading at $12 at the time of writing. Perhaps, in 2020, the coin will navigate around $15. In 2021, the uptrend will resume and the price will stabilize around $35 at the end of 2021.


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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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.