Tag Archives: LINK price analysis

Chainlink’s price chart confirmed that the bulls were still solidly in control. The market structure on the three-day chart was bullish.

The $8.15 region was a twelve-hour bearish order block that has been flipped to a bullish breaker by the recent price action- but will LINK prices descend below the $10 psychological support?

From a technical standpoint the recent LINK breakout past the $10 mark was clean. The On-Balance Volume (OBV) pushed above a resistance level that hasted lasted all through 2023.

The announcement of LINK’s Staking v0.2 may have given the altcoin a bullish edge. However, investors and traders may have to wait for a move above $7.87 to invalidate any bearish bias.

Over the weekend the Open Interest remained flat as the price saw a slow decline from the $8.2 zone, signaling a shift in the bullish sentiment- but will Chainlink see a large retracement?

Swing traders will be eyeing the $8.5 level to see LINK’s reaction at the HTF resistance level- can the bulls drive the rally that far or will they face exhaustion earlier?

The RSI declined steadily over the past few days, showing strong downward momentum. The market structure was also bearish after the move below $6.14 on 9 September.

Technical volume indicators clashed with short-term CVD data, but Chainlink price action retained a bearish bias from the higher timeframes.

Sellers could sink LINK to the next key support – An H12 bullish order block near $5.5.

To flip the bearish bias Chainlink has, the price would need to form a higher low and a higher high, which could take time to develop.

To the south, traders can watch out for $6.58 and $6.06. The bulls could drive a bounce in prices at those places.

LINK is heading to a crucial demand zone and could offer bulls reprieve. However, BTC is yet to show bullish intent above $29.5k.