Chainlink (LINK) Remains Above the $20.00 Mark
Login

Chainlink (LINK) Remains Above the $20.00 Mark

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



The Chainlink token price has stayed above the psychological level at the $20.00 mark. However, it could be seen that a correction has occurred in the market. Things are still unfolding in this session, so let’s commit to studying price movements in this market for better insights.

Chainlink Statistics:
Current LINK Value: $20.016
Chainlink Market Cap: $11,891,515,575
LINK Circulating Supply: 587,099,970
LINK Total Supply: 1,000,000,000
Chainlink CoinMarketCap Rank: 10

Key Price Levels:
Resistance: $20.016, $21.000, and $22.000
Support: $20.000, $19.000, and $18.000

Chainlink (LINK) Remains Above the .00 Mark

Chainlink Extends Trading Through the $20.000 Mark

Price action in the LINK daily market reveals that there have been some significant price moves in the ongoing session. The last price candle on this chart can be seen leaping towards higher levels while starting the session near the close of the previous session. However, the appearance of a longer upper shadow suggests that the session may have awakened the bears, as the corresponding price candle contracts downward.

Nevertheless, the current price of the token remains at a considerable level above the Guppy Multiple Moving Average (GMMA) lines. Likewise, the Stochastic Relative Strength Index (SRSI) indicator lines have just delivered a bullish crossover. The ensuing lines of this indicator following the crossover seem not hyperextended and suggest that traders may keep calm and maintain bullish crypto signals in this market.

Chainlink (LINK) Remains Above the .00 Mark

LINK Downward Rejection Revealed

In the Chainlink 4-hour market, the earlier perceived downward rejection has been clearly portrayed via the last price candle on the chart. Nevertheless, it could be seen that the last price candle here has a lower shadow, which shows that upside forces are trying to push the market back upwards. In fact, via close observation, one can see that prices have increased from what they were on the daily chart.

Consequently, this suggests that buyers may have started re-entering the market at the dip due to downward rejection. Meanwhile, the SRSI indicator lines are still pointed steeply downward, following a crossover in the overbought region. Consequently, this suggests that traders should ensure that an exit is positioned at a convenient level while maintaining bullish anticipations towards the $22.00 mark.

Trade crypto coins on AvaTrade

  • 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News