- Chainlink price prediction showcases that LINK cryptocurrency has been trading with strong uptrend momentum over the daily time frame chart.
- LINK crypto has recovered above 20 and 50-EMA, while trading towards 100 and 200-days Daily Moving Average.
- The pair of LINK/BTC is at 0.0003396 BTC and has dropped by 2.61%.
According to Chainlink’s price forecast, the token has been consolidating inside the long-term consolidation phase since May 2022. The LINK cryptocurrency must rise to the top during the daily price chart’s long-term consolidation phase. In the interim, the LINK cryptocurrency must find buyers in order to rise and break through the consolidation phase. Over the daily time frame chart, the LINK cryptocurrency price has been trading with significant rising momentum.
Currently valued at $6.34, Chainlink’s market value has increased by 1.05% during the past 24 hours. During the intraday trading session, trading volume rose by 72%. This suggests that investors want to improve LINK cryptocurrency. Market cap to volume must be 0.1079 for LINK to make its breakthrough a second time.
The daily price chart of the token indicates that it is in a phase of consolidation, according to the chainlink price prediction. As LINK advances into the top price range of the long-term consolidation phase, the volume change, which is now below average, must increase. The cost of the cryptocurrency LINK has remained constant between $5.72 to $9.55. Cryptocurrency LINK has gone below the point of consolidation and must now indicate a return within the price range on the daily chart.
What do Technical Indicators suggest about LINK?
On the daily price chart, buyers must come together for the chainlink price to formally exit the consolidation period. The LINK cryptocurrency is expected to trend sideways, according to technical indications.
The LINK cryptocurrency’s consolidation period is depicted by the Relative Strength Index. At 38, the RSI is still below neutrality. The LINK cryptocurrency’s sideways movement is shown on the MACD chart. In order to enter the higher price range of the consolidation phase, the MACD line must remain stable at this point.
Summary
According to Chainlink’s price forecast, the token has been consolidating inside the long-term consolidation phase since May 2022. The LINK cryptocurrency must rise to the top during the daily price chart’s long-term consolidation phase. The LINK cryptocurrency is expected to trend sideways, according to technical indications.
Technical Levels
Support Levels: $5.88 and $5.70
Resistance Levels: $6.70 and $7.75
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
