September 18 Analysis: Chainlink Price Forecast and Technical Outlook

September 18 Analysis: Chainlink Price Forecast and Technical Outlook


Chainlink Price Prediction: 10.60% Increase in the Past 24 Hours

The Chainlink price has experienced a 10.60% increase in the past 24 hours, reaching $6.82. As of now, the Chainlink market cap stands at $3.6 billion, with a circulating supply of 556.8 Million coins out of a total supply of 1 billion. The digital currency is ranked #19 on Coinmarketcap.

LINK/USD Market

Resistance levels: $8.0, $8.5, $9.0

Support levels: $5.0, $4.5, $4.0

The LINK/USD pair has seen a whole lot of spike in price in the previous 24 hours, with a 10.60% rise. This positive trend movement may continue if the red line of the 9-day moving average (MA) crosses over the green line of the 21-day MA. As of now, the Relative Strength Index (RSI) is over the 60-level, indicating a favorable trend.

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Chainlink Price Prediction: Probable Spike Over $7.0 Level

If buyers push the Chainlink price over the upper boundary of the channel, it may need to rise over $7.0 to sustain its positive trend momentum. Nonetheless, if sellers bring down the price and test the lower side of the channel, traders may consider the market bearish.

If the price continues  to rise, resistance levels can be expected at $7.5, $8.0, $8.5, and $9.0 respectively. Conversely, if the price falls, support levels could be found at $5.0, $4.5, and $4.0. The RSI (14) is as of now pointing upwards, providing further positive trend signals.

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LINK/ Bitcoin Heading North

In comparison to Bitcoin, Chainlink is trading over the 9-day and 21-day moving averages. This implies that the price may cross over the upper boundary of the channel. The nearest resistance level is expected at 2600 SAT, followed by higher resistance levels at 2800 SAT and beyond.

If selling pressure increases, lower support levels could be found at 2000 SAT and below. The RSI (14) is moving towards crossing over the 60-level, indicating a possible uptrend.

Chainlink’s Distinction

Chainlink’s price is very likely remain positive if the 9-day moving average crosses over the 21-day moving average. The RSI (14) likewise confirms the positive trend movement as the signal line crosses over the 50-level.

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What sets Chainlink apart from other Meme Coin coins in the market is its impressive pedigree. With nearly $25 Million raised, it is critical for investors to act swiftly and secure the best price before the official launch date.

Hot Take: Chainlink Continues its Bullish Momentum

The Chainlink price has seen a whole lot of increase in the past 24 hours, with probable for further upward movement. Traders should pay attention to key resistance levels at $7.5, $8.0, $8.5, and $9.0, as well as support levels at $5.0, $4.5, and $4.0. In addition, Chainlink’s performance against Bitcoin (BTC) looks promising, with resistance levels at 2600 SAT and higher. Overall, Chainlink’s strong fundamentals and positive market sentiment make it an attractive investment option.

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Author – Contributor at | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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