Chainlink (LINK) Price Ramps through the $7.00 Price Level

Chainlink price action picked up bullish momentum around the 11th of this month and has continued with that trend. Even now, the ongoing session seems to hold a lot of promise. Technical indicators seem to be revealing that the token has a bright outlook.

Chainlink Statistics:
LINK Value Now: $7.50
Chainlink Market Cap: $4,170,372,353
Chainlink Circulating Supply: $259,348,610
LINK Total Supply: 1,000,000,000
LINK CoinMarketCap Ranking: 18

Major Price Levels:
Top: $7.50, $8.00, and $8.50
Base: $7.00, $6.50, and $6.00

 

Price Action in the Chainlink Market Heads Towards the $8.00 Price Mark

Price action in the LINKUSDT has gone massively bullish in recent times. Although there have been some stops along the way, buyers have been able to pick up after each interruption. The ongoing session seems to have landed a huge blow on downward forces, considering the size of the last price candle on this chart.

Additionally, the Moving Average Convergence Divergence MACD indicator lines have risen above the equilibrium level and seem ready to keep rising, given the color of the last bar on the MACD indicator. Technically, this market seems primed for more upside retracement.

LINK Keeps Steady Towards a Nearby Resistance at the $7.60 Level

Over the past two trading sessions in the Chainlink 4-hour, buyers have kept pushing the price of the token higher. The price candle for the ongoing session has pushed through the upper band of the Bollinger Bands indicator. Meanwhile, the Relative Strength Index (RSI) lines have crossed into the overbought region of the indicator.

The leading line has crossed above the 90.00 mark, while the lagging one has surpassed the 80 level. The last price candle here shows that upside forces still seem strong enough to keep going, at least towards $8.00.

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