Chainlink Price Analysis: Could Reach $100
- Chainlink price has formed a bullish pattern on the daily chart. Meanwhile, it has seen a gain of 8.58% in the intraday session.
- Technical Indicators hint at a bullish move for the LINK price. In contrast, the LINK/BTC pair is on bullish momentum.
Chainlink’s price is currently at $52.39, with a gain of 8.70%. It has seen a gain of more than 300% in three months. Link price has an ROI of 2330%, which is one of its significant points. LINK price is currently seeing a bullish momentum, and it can last for more than a month. LINK/BTC pair is also seeing bullish momentum, and it can see a breakout from the resistance in upcoming days.
Chainlink is at 11th in the cryptoverse with a market capitalization of $21,827,195,865.17. The coin’s volume has also seen an increase of 64% in the daily time frame. The volume to market capitalization ratio of the coin is 0.1522. If it goes above 0.8, then a buying rush can be seen.
Technical Indicators Suggest A Bullish Move For LINK Price
Source: Trading view
Chainlink price highlights a bullish move on the daily chart. On the daily chart, LINK seeing a temporary stop on the bullish momentum. Resistance for the coin while going upside can be observed at $60. It can observe a bounce back on the downside from $40. LINK price is trading above 50 and 100 Daily Moving Average. The 50MA (RED) line is at $36.79, making it support for the coin. In the daily time frame, the coin has given a breakout from the accumulation zone. The price can see a strong bullish rally up to $70 from this point. LINK/BTC pairs can also break out the resistance and see a bullish momentum.
RSI (Bullish): It is currently trailing at 70.63, showcasing its presence in the overbought zone. There is a positive slope formation in the RSI, highlighting a positive sentiment for the price. LINK price may correct itself before going upwards as per RSI.
LINK price is in an overbought zone, and you can see a small correction before a big bull rally. It can even rise to the $100 mark in upcoming months. Investors should do their due diligence before investing.