LINK Bulls target $9.0 resistance level

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Chainlink price forecast will continue to recover from the $7.8 low as the price remains in a short-term bullish trend.

Chainlink Forecast Statistics Data:

  • Chainlink price now – $8.0
  • Chainlink’s market value is $3.9 billion
  • Chainlink transfer offer – 491.5 million
  • Chainlink’s total supply – 1 billion
  • Chainlink Coinmarketcap Rank – #20

LINK/USD market

Key steps:

Resistance levels: $10, $11, $12

Support levels: $6, $5, $4

Chainlink Price Forecast: LINK Bulls Target $9.0 Resistance Level
LINKUSD – Daily Chart

LINK/USD is in the hands of the bulls when the coin trades above the 9-day and 21-day moving averages. However, due to the current bullish activity, the coin may soon trade near the upper border of the channel. The relative strength indicator (14) of the technical indicator is moving towards the 60-level, and the signal line is moving to the north, indicating further breakdowns.

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Looking at the daily chart, Chainlink’s price is poised to break further upside as the 9-day moving average moves to cross above the 21-day moving average. However, the more the bulls press the bears, the higher the coin will be. Therefore, if the bulls continue the uptrend, LINK/USD could continue with a bullish move that could take the coin to the $10, $11 and $12 resistance levels.

On the other hand, any strong selling pressure could drag the price below the moving average if the bears return to the market, and LINK should trade below the daily opening of $8, a bearish move could take the price to the supports at $6. , $7 and $8.

On Bitcoin, Chainlink may cross above the upper boundary of the channel as bulls increase their entry into the market. At the time of writing, LINK is moving to make several gains as it trades at 4300 SAT. If Chainlink shows a more aggressive rally, it may meet resistance at 4800 SAT and above.

LINKBTC – Daily Chart

However, traders can expect the market to continue its upward movement as the technical indicator Relative Strength Index (14) moves to cross overbought territory. Conversely, if the coin falls and heads down, it may find support at 3700 SAT and below.

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