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Chainlink Price Prediction: Is the LINK Price Rising Now?

 


Chainlink price returned to around $6.2. There he encounters strong support, which he has already bounced off several times.


Chainlink price bounces off USD 6.2 again

The Chainlink price returned to support between around USD 5 and around USD 6.25 again, which Chainlink was able to bounce off. Chainlink is now finding the next significant Fibonacci resistance at around USD 7.5 and USD 8.3. Without a break of the golden ratio resistance at around USD 8.3, the correction remains intact.


In addition, significant resistance is already waiting at around USD 7.34 at the 50-day EMA. Additionally, the MACD histogram has been ticking bullishly higher for the past few days. However, the MACD lines remain bearishly crossed and the RSI is neutral.


The Death Cross on the 4H chart confirms the short-term bearish trend

A death cross has formed on the 4H chart, confirming the trend in a bearish short-term. In addition, the Chainlink price now appears to be being rejected a second time at the 50-4H-EMA resistance around $6.8.


The MACD lines are bullishly crossed in the 4H chart, but the histogram is already ticking bearishly lower. Should the LINK price now bullishly break the 50-4H-EMA at around USD 6.8, the next significant Fib resistance is waiting at around USD 7.5.


Is Chainlink Price Returning To The Low Around $5.3?

If the LINK price cannot bullishly break the golden ratio at around USD 8.3, the LINK price could return to the last low at around USD 5.3 in the medium term.


In addition, the histogram of the MACDs in the weekly chart is ticking bearishly lower for the third week in a row. However, the MACD lines are still bullishly crossed and the RSI is neutral.


If the LINK price bullishly breaks the golden ratio at around USD 8.3, the next significant resistances await at around USD 10.3 and USD 13.4.


The trend clearly remains bearish

Otherwise there is no bullish trend confirmation for Chainlink. Only the MACD histogram was able to close bullishly ticking higher last month. It could also close this month in a bullish manner, because there are only a few hours left until the monthly candle closes.


Nevertheless, August was very bearish towards the end. The trend will remain bearish until LINK price surpasses the golden ratio around USD 35.


Against BTC, Chainlink price was rejected in a bearish manner at the 50-week EMA

Against BTC, Chainlink price was bearishly rejected at the 50-week EMA around 0.000386 BTC, which additionally runs the 0.382 Fib level. The LINK price is now at 0.382 Fib support at around 0.000324 BTC. If LINK breaks this support, significant Fib support will only wait again at around 0.00028 BTC.


Otherwise, the MACD lines on the weekly chart are still bullishly crossed, while the histogram is ticking bearishly lower for the third week in a row.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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