Chainlink (LINK) Price Analysis: LINK Price Making Another Attempt For $4.00 With Bullish Momentum

  • The price for Chainlink coins showed a clearly positive dynamic in today's market with growth of 1.00%.
  • The crypto asset has also regained the crucial $ 3.90 mark, indicating a future upward move.

Source: Coinmarketcap

On the 7-day weekly chart, Chain link started at a safe $ 3.50 level and the general bearish move in the market has brought the price consolidation scenario for the link.

LINK gradually gained momentum to the $ 3.60 price level and now the price level has returned to a safe place of $ 3.70.

From here on, Chainlink can hold the $ 3.50 price level and build on the upward momentum to the $ 4.00 level. However, the price growth process has encountered significant resistance of $ 3.80.

As of now, Chainlink has a strong support level of $ 3.50. Any price that falls below the price mark again leads to a significant decline in the old coin.

The main and only hurdle to Chainlink's upward move is the $ 4.00 resistance level. Even on yesterday's bullish market, the crypto asset tried to exceed the resistance level, but was unable to do so.

Chainlink Technical analysis

Screenshot (287)
Source: trade view

The technical graph reflects Chainlink's strong positive momentum, which forced a huge jump from the $ 2.00 price level to the $ 3.70 level.

The MACD values ​​must maintain a bullish zone, which is a positive sign of the connection. The levels also indicate that the bearish region may experience a bearish cross.

The 24-hour RSI shows a positive character with a level of 60. Any further drop below the 50 level will invite bears back into the game

The 24-hour Chamber of Commerce had a positive divergence in the normal region and is striving for further development. However, due to the profit booking dynamics for the chain link on the market, negative divergence can occur again.

Resistance level: $ 4.00

Support level: $ 3.50

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