For a very long time, $15 has been a crucial phycological mark for Chain link (LINK). The coin has tried to hold its gains above that several times this year, but has fallen again as market volatility continues to hit. So what will happen this time? Here are some pointers:
This is the first time LINK has broken above $15 in several weeks.
$15 had also turned out to be a huge resistance level for LINK bulls.
Bullish momentum seems likely but could eventually slow down.
Data source: Tradingview
Chainlink (LINK) – Price Analysis and Prediction
Converting $15 from overhead resistance to support is a big step for LINK bulls. The coin broke above this level for the first time in a long time, and based on the price action so far; it looks like he’s actually trying to consolidate here. The big question now is how long LINK can sustain price action above $15.
If indeed the bulls are successful, it is likely that the coin will move through to test the next overhead resistance zone of $18. Based on the current bullish momentum, we expect LINK to climb to around $19.5 before trying to find more demand.
However, with many short-term traders likely to lock in profits in this zone, we expect a slight pullback once LINK breaks above $19.5 in the short term. Furthermore, the RSI has currently shifted to neutral, suggesting that any bull run will eventually slow down in a few days.
Is it time to buy Chainlink (LINK)?
Founded in 2017, Chainlink (LINK) has become one of the world’s leading blockchain projects. It’s pretty low compared to its ATHs, but that also means it’s a pretty good buy option right now. With LINK’s long-term potential, any investor worth their salt should have it. Here is where to buy Chainlink.