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Chainlink perpetual future quoted in USD

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Will LINK Price Rise 2x Before 2024 End? Examining the weekly chart, it's evident that LINK's price was previously deflected from a major zone that once acted as support but has now turned into a supply zone, pushing the price downwards. However, on the daily chart this month, LINK's price has shown growth, breaking through the 20-day and 50-day EMA bands. Currently, LINK is targeting the 200-day dynamic EMA band. If the bullish momentum continues, LINK's price could potentially double. However, to gain broader market confidence, LINK needs to achieve a change of character by piercing and sustaining above the 200-day EMA band and the $13.147 mark. Should the bullish rally accelerate, the next targets are $15 and $16.50, respectively. Conversely, if LINK's price is deflected by the 200-day EMA band and fails to achieve a change of character, the bearish trend may persist.
COINBASE:LINKUSDLong
by Sam_TCR
Analysts Anticipate 20% Hike In Chainlink Price Above This Zone Analysts Anticipate 20% Hike In Chainlink Price Above This Zone Chainlink price DAA divergence indicator highlights the fading strength of bears. The RSI and 14 day SMA line showcases a bullish crossover indicating a trend shift on the higher side. While the broader cryptocurrency market prepares for a recovery, Chainlink seems to be ahead of all. Chainlink bulls have defended the previous low successfully and are intending for an upward push that could trigger a breakout. LINK price is trading higher for the third consecutive session and has surged by over 14% in the period. At the time of writing, Chainlink was exchanging hands close to $10.53 adding 1.74% to its market value. Moreover, the price is headed to break an interesting pattern over the chart after which chainlink can be a top choice of investment for the traders and Investors in September. Let's analyze it in detail. Chainlink Price DAA Divergence Indicates Fading Strength Of Bears On the way to recovery, Chainlink bulls have added over 14% in the recent sessions. Their intention for recovery may continue as the analysts have noted some significant development in the on-chain data. As per Santiment, an on-chain analytics provider, LINK price DAA (Daily active address) divergence was observed to be shifting on the bullish side indicating the failure of the bears. The decreasing divergence on the bearish side hints at a comeback by the bulls which is also visible on the charts to some extent. The price DAA divergence is an important on-chain metrics which measures divergence between the price and daily active address. A positive growth in the divergence indicates a growing bullish influence and vice versa. Moreover, the daily on-chain transaction volume in profit was 636K whereas daily on-chain transaction volume in loss was close to 541K at the moment. The ratio of daily on-chain transaction volume in profit to loss was at 1.069. A ratio above 1 indicates that more investors were in profit than that of loss. No, if LINK price heads higher, the ratio may surge more indicating more investors turning in profit. LINK Price Analysis: Analysts Anticipate 20% Rise Above This Level Chainlink price was trading higher for the last three sessions indicating a buyers comeback. However, the bulls need to prove their domination above the recent supply of $12.5 level in order for a continued recovery. The $12.5 level is crucial for the bears as well as the upper boundary of the declining channel pattern that Chainlink was following for the last three months. A sustained move above the level may validate a bullish reversal providing a short term gain opportunity of over 20%. However, the breakout might not be that easy for the bulls as bears would try their best to keep the trend in their favor. Also, if the bulls lose the steam at the higher levels, it may invite more sellers to enter in short positions and the price may again fall back to retest the recent $9.5 level demand. At the time of writing, the RSI line was placed at 47 points and that of the 14 day SMA line was placed close to 43.56 points. A bullish divergence observed between the RSI and MAD adds validation to a continued recovery.
CRYPTO:LINKUSDLong
by Ritika_TCR
What Daily Chart Of LINK has Developed? The area around $13 to $13.147 is proving to be a significant resistance zone, for the daily TF movement. It is likely to act as a barrier to any short-term rallies and could create a struggle in Chhainlink. But surpassing this struggle would lead to the next resistance at $16.384. On the contrary, if the situation flips again under the bear's grip, then monitoring $9.91 would be a must; if it breaches, then $8 could be conquered, too. Meanwhile, chart tools like EMA's, MACD, and RSI depict the recent intraday surge and nothing more. The uncertainty looks intact until a major Change of character level is breached, which lies at $16.384. As of writing, the price is trying to approach the 50-day EMA band. MACD built a bullish cross below zero line with a histogram at 0.210, and RSI flashed at 52.03.
COINBASE:LINKUSDLong
by Sam_TCR
1
What Lies Ahead In LINK's Daily Chart? The Chainlink (LINK) overall trend is a bearish trend, as the prices are below the 50-day and 200-day EMA bands. There is mixed logic that has created uncertainty for its future price movement. However, the price is above the demand zone and shows a bullish presence on it. Likewise, the MACD has formed a bullish cross while the RSI has also pierced 14-SMA from below. Therefore, $12, and $14 are the major interruptions for a sustained confirmation to go green. On the contrary, if the major trend continues, then the supports bears could eye would be present at $8 and $6.
COINBASE:LINKUSDLong
by Sam_TCR
The MACd shows a bullish crossThe Chainlink (LINK) price has displayed a bull's presence this week as it followed an upward trendline and surged 9.18% on the basis of its price performance. Additionally, on an intraday basis, the LINK has advanced 1.03%, where the price traded at $14.397 (at press time). As per CoinMarketCap, its volume-to-market cap ratio stands at 2.67%. That exhibits comparatively low liquidity, followed by the last 24 hours of trading activity in the LINK crypto asset. Looking further into the crypto world, the LINK has a market cap dominance of 0.36%. The fear and greed index stays at 56, which illustrates that the sentiment of the BTC crypto appears to be neutral. LINK crypto has been facing resistance from the higher levels through dynamic trendlines for a long time. The crypto has been consolidating inside a small range zone for a short span. If LINK breaks further above $15.10, it might lead to trendline resistance next. If the bulls manage to push towards a higher level and push beyond the dynamic trendline resistance, huge gains could be witnessed on a daily. The MACd shows a bullish cross, but 50-day and 200-day EMA's have formed a death cross on daily. Meanwhile, the RSI jumped beyond 14-SMA from lower levels, and it flashed at 47.6 at press time.
COINBASE:LINKUSDLong
by Sam_TCR
1
if the demand for the remains high,The LINK price showed that it rose from September 2023 from the level of $5.8, and after taking a halt somewhere at $13 for nearly three months, the rally made a top of $22.85 by March 11th, 2024. The price ended up violating the uptrend thereon by making new lower lows and highs on the daily chart, where it dropped to the earlier support where it took a halt last time. After various attempts to rise, BIST:LINK happened to be at the same spot, and that is beneath the 50-day and 200-day EMA, and majorly underneath the declining trendline in the long term. However, after the multiple surges from the crucial support, the LINK looks ready once again to show a recovery by rallying from a $13 key support on the daily chart. The market leader with dominance of 53.4% is looking like it is primed to rise; the leader also influences the realm of crypto as well. Therefore, LINK crypto looks like it is set for a colossal surge, as it seems it is geared up to crack the resistance level up ahead and rocket to capture the lost territories once again from the current support zone. Furthermore, the LINK asset is exhibiting bullish strength and rising capacity as it has taken support from $13 and approaches major 50-day and 200-day EMA's in order to surpass them and reach near the resisting trendline. Likewise, the LINK asset is displaying bullish behavior as the histogram seems to be converging, which could be a trait of bullishness coming in the crypto. The RSI looks to be taking a u-turn from an oversold of 30, which recently flashed at 40.62, which, was above 14-SMA, and looks like it is headed for the overbought territory, meaning that the asset could extend its gains, based on the investor's and traders' '. At press time, the Chainlink (LINK) crypto is experiencing a surge of 2.74% in the last 24 hours, which is trading at $13.987. The market capitalization is $8.53 Billion, and the 24-hour trading volume amounted to $377.73 Million; both showing growth of 5.22% and 1.22%, respectively. As of now, the volume-to-market cap ratio stands at 4.13%, which signifies weak liquidity. It shows that the market is in need of liquidity, and it currently shows a less stable market. Therefore, if LINK gets a hold of good liquidity from the buyers' side, and bullishness prevails, then the nearest targets would be up to the trendline resistance, and that would be $17.0 and $19.0, respectively. However, in case the LINK fails to hold on above the multiple times tested support of $13.0, the price could deteriorate endlessly; the nearest breathing point for the LINK would be the support levels of $10.0 and $8.50, respectively. Therefore, if the demand for the remains high, the asset price could bounce back from the current level. The next goal for the price is to reach $0.1200. However, if the crypto price fails to stay above the $0.0500 level, it could decline further.
COINBASE:LINKUSDLong
by Sam_TCR
A clear break above $22.0 may possibly open gate for new highsBesides, there was a breach above a key bearish trend line on the daily chart of the LINK. Chainlink has traded around $16.80 level (at press time), with an intraday surge of 1.14% and traded above the 50-day, and 200-day EMA's. primary resistance happens to be near the $18.20 level, and the next major resistance at $20.0 and $22.0 supply zone. A clear break above $22.0 may possibly open gate for new highs toward the $30.0 level. On the contrary, if Chainlink’s price fails to climb above the $18.20 resistance level, there could be a fresh deterioration. Where, the Initial support on the downside could be near the $15.50 level, below which the price might test the $ 14.0 level. in this situtaion, Any more losses could lead LINK toward the $12.50 level, also.
BITFINEX:LINKUSDLong
by Sam_TCR
1
Chainlink (LINK) Invalidates The Formation of a Death Crossover.Chainlink (LINK) Invalidates The Formation of a Death Crossover. This week, Chainlink experienced a notable upswing, appreciating by over 20.2%, which positioned it as the fifth-highest gainer of the week, outpacing numerous other cryptocurrencies. With a market capitalization of $9.61 billion, it holds the 15th rank in the overall crypto market standings. The technical analysis of the daily chart reveals that the LINK cryptocurrency has broken out from an ascending triangle pattern, effectively negating the potential for a death cross as indicated by the 50-day and 200-day Exponential Moving Averages (EMAs). Having crossed above the EMAs, Chainlink demonstrates a transition to a bullish trend, setting its sights on reaching and potentially surpassing its yearly high points.
CRYPTO:LINKUSDLong
by Ritika_TCR
Chainlink at the Forefront as US Inflation Data Sparks Market CoChainlink at the Forefront as US Inflation Data Sparks Market Confidence The Consumer Price Index (CPI) data stood at 3.4% indicating a slight decrease in the Inflation rate. The drop in the inflation rate has cast a favorable light on the broader market, resulting in noticeable price enhancements across Bitcoin and various altcoins including Chainlink. The broader market sentiment is buoyant following the April U.S. inflation report. Both Bitcoin and altcoins have shown substantial growth, suggesting a potential change in the prevailing trend. Additionally, Chainlink appears to be on the rebound, having increased by over 5% from its yesterday’s closing price. The price has reversed direction from a multi-month low and seems to be rallying to maintain those levels. Let's look into the details of the U.S. inflation data and examine its influence on the wider market, as well as the prospects for Chainlink's recovery from its recent low point. Market Morale Boosted by Easing Inflation Rates! Following the April U.S. inflation report, Bitcoin and other cryptocurrencies saw a significant uptick in value. Concurrently, Chainlink's price surged by about 5% within the day, averting the danger of descending below its multi-month low points. BREAKING: Year-over-year inflation clocked in at 3.4% in April — the 37th straight month over the Fed's target.Overall prices are UP by 20% and real average weekly earnings are DOWN by 4.4% since Biden took office. pic.twitter.com/rCdUnIckEr— RNC Research (@RNCResearch) May 15, 2024 The Consumer Price Index (CPI), a gauge for tracking the variation in prices for a typical set of consumer goods and services, showed a year-on-year rise of 3.4% in prices. This is a modest reduction from the 3.7% inflation rate reported in March by the U.S. Bureau of Labor Statistics (BLS). Chainlink Price Prediction: What's Next For The Crypto? The recent uptick in intraday prices signals strong bullish activity, aiming to prevent a fall below the longstanding low. At press time, the LINK crypto was trading at $13.62, marking a surge of over 5%. The latest market movements have shaped a descending triangle pattern, with LINK's price adhering to a trendline resistance, supported by the multi-month low of $12.5. Moreover, The immediate trend remains uncertain as long as the cryptocurrency stays within this pattern. A decisive move beyond the pattern could set the future trajectory. Specifically, a breakout above the trendline resistance could suggest a shift to an upward trend, potentially leading to higher price movements. At the moment, the Relative Strength Index (RSI) stands at 44.37 points, and the Simple Moving Average (SMA) line is at 41.93 points. The occurrence of a bullish crossover between these lines hints at the likelihood of the bullish trend persisting. Conclusion. The broader market has tuned bullish amid the April Inflation data, with Bitcoin and altcoins showing growth, hinting at a trend shift. Also, Chainlink price has risen over 5% from a multi-month low and was currently exchanging hands at $13.62. The CPI data indicated a slight decrease in inflation to 3.4%. The LINK crypto daily chart reveals a descending triangle pattern, with a breakout above trendline resistance potentially signaling an upward trend. The RSI and SMA indicate a bullish crossover, suggesting the bullish trend may continue. The market awaits a decisive trend confirmation.
CRYPTO:LINKUSDLong
by Ritika_TCR
1
Chainlink Price Prediction: Can LINK Overcome Challenges & ShineChainlink Price prediction shows that the crypto may attain $25 as the highest price in April if it surpasses $22. The technical indicators imply a sideways to positive outlook in the short term. The Chainlink price prediction shows that the crypto is hovering back and forth delivering a sideways to bullish outlook in the near term. The crypto is a mixed bag on Saturday, seeing moderate gains by the afternoon session. The bulls are trying to hold the grounds near the 50 day EMA as an indecisive candlestick was observed on the charts. At the time of writing, the LINK price was up nearly 0.37% and trading close to $19.04. The daily chart shows the formation of a range and the price hovering in between the upper and lower boundary of the range formed. On the higher side, the $22 level has been acting as a supply and acting as a hurdle for the bulls. Whereas, the $16.64 level has been acting as a demand and preventing the price from falling further. Now, until the price is maintained in the range it may continue to maintain a sideways trend. Any breakout or breakdown may further validate a trend continuation on that very side. Chainlink Crypto Volume Analysis The volume analysis demonstrates that the chainlink crypto received 320 Million USD in volume in the past 24 hours which is 15.81% less than the previous day’s volume. Alos, it has a current market cap of 11.15 Billion USD and ranks 15th in the overall crypto market. The volume to market cap ratio of chainlink is 2.88% indicating low volatility in the crypto. It has a current circulating supply of 587.09 Million LINK tokens against a total supply of 1 Billion tokens. Chainlink Social Volume Insights Moreover, the social volume and social dominance of chinlink crypto displays the increasing or decreasing number of social users over a period of time. The social users include the users from various social media platforms like Twitter, Telegram, Instagram and other popular social media platforms. A rise in the social users indicates the rising popularity and awareness of the users towards the crypto which may help the community grow more. The social volume analysis of chainlink crypto shows a positive growth in the last one month. The number of social users was low in February which saw a jump of nearly 20% in March 2024. Technical Indicators Imply a Mixed Outlook The technical indicators imply a sideways to slightly positive outlook in the short term. However, the long term trend outlook is positive. The chainlink cryptocurrency price has experienced frequent crossover with the short term EMAs of 20 and 50 day indicating a sideways trend. At the time of writing, the Relative strength index (RSI) line was placed close to the mean line at 49.12 points and that of the 14 day SMA line was hovering at 46.79 points. Both the RSI and SMA line were placed close to the mean line suggesting a slightly positive outlook. Also, a bullish crossover of both the lines was observed which further adds confirmation to it. Chainlink Price Prediction April 2024. The Chainlink price prediction for April 2024 shows that the crypto may advance to a high of $25 if bulls are able to surpass the hurdle of $22 on the higher side. Whereas, the less optimistic analysts estimate a price target of $15 on the lower side after the breakdown below $16.64. Conclusion. The chainlink crypto hovers in a range and displays a sideways outlook in the short term. The $22 level and $16.64 level have been acting as a supply and demand zone respectively and the price hover in the zone. The technical indicators imply a mixed outlook in the short term. Now, any breakout or breakdown may indicate a trend continuation on either side. The long term trend outlook is positive which may attract more buying volumes at the lower levels. Technical levels: Support levels: $16.64 and $13.49 Resistance levels: $21.92 and $25.00 Disclaimer The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. Keyword: Chainlink Price.
CRYPTO:LINKUSD
by Ritika_TCR
ChainLink ($LINK) Analysis: Ready for a Breakout?Trading Range: BINANCE:LINKUSDT has been oscillating between $5 and $9.5 for the past 1.5 years. Today's Surge: LINK is up 17% today, hinting at a possible bullish momentum. Bitcoin ETF Impact: With potential Bitcoin ETF approval, a break above the $10 resistance for LINK could be on the horizon. Volume & Potential Play: A breakout should ideally be backed by high volume. After $10, the next resistance level would be at $12 with a potential stop loss at $8 would give a solid 1:1 risk-to-reward ratio. I'm also going to be adding some to my long-term portfolio in preparation for the next bull run. 🤑 Disclaimer: This is for informational purposes only, not financial advice. Always do your research before investing. Happy trading! 🚀
BINANCE:LINKUSDLong
by TrendTechnician