- LINK crypto price action recovered from the support and followed an uptrend with the overall market support
- LINK/BTC pair is trading positive by 1.28% at 0.0008494 BTC
- The 24-hour volume in Chainlink is $2,094,484,946, with a loss of 46.15%
The 4-hour technical chart of LINK crypto projects a bullish momentum. According to pivot points, LINK’s critical support level is $43. Whereas if it moves upside, the crucial resistance to watch is $57. Besides, the chart also features a bearish engulfing candle showing a bearish trend with high reliability.
The Exponential Moving Average (EMA), consisting of EMA 20 & 50, acts as solid support in the coin’s price. EMA 20 is moving above the EMA-50 line, indicating a positive momentum. Investors may perceive the price is also sustaining above EMA-50. So until the price remains above both EMA, it will ensure Chainlink’s bullish momentum.
The CCI (Bearish) with the value of -50 indicates a sell signal in the coin, and the line went down from 40 to -50 on intraday session considered to be in an oversold region. It may plunge in short term trading sessions.
The volume of (651.41K) showcases below the Volume MA (1.46M) of 20-days. Chainlink requires buying pressure to drive its price level to an excessive region. Investors may also observe declining volume in the chart, indicating a big move is expected soon.
The parabolic SAR indicator suggests a buy signal in Chainlink on intraday. No signs of a sell signal have been seen, which is an excellent sign for LINK investors.
LINK Crypto Could Gain Up to 20% In Upcoming Days
LINK crypto price was trading at $48.50 with 3.0% positive daily and 2.29% negative returns in the weekly period. Furthermore, technically, the price shows weakness and is trying to sustain above EMA-20. With the support of buying pressure, the price may hit the resistance level of $57 in a future trading session, which will give returns up to 18% to the investors in the short term.
Resistance: $57
Support: $43