LINK Bulls Target $9.0 Resistance Level

The Chainlink price prediction keeps recovering from the low of $7.8 level as the price remains within the short-term bullish trend.

Chainlink Prediction Statistics Data:

• Chainlink price now – $8.0
• Chainlink market cap – $3.9 billion
• Chainlink circulating supply – 491.5 million
• Chainlink total supply – 1 billion
• Chainlink Coinmarketcap ranking – #20

LINK/USD Market

Key Levels:

Resistance levels: $10, $11, $12

Support levels: $6, $5, $4

LINK/USD is in the hands of the bulls as the coin trades above the 9-day and 21-day moving averages. However, due to the current bullish movement, the coin may soon trade near the upper boundary of the channel. The technical indicator Relative Strength Index (14) is moving toward the 60-level with the signal line pointing to the north for more bullish signals.

Chainlink Price Prediction: LINK May Hold the Current Price

Looking at the daily chart, the Chainlink price is ready to break more upsides as the 9-day moving average moves to cross above the 21-day moving average. However, the more the bulls pressurized the bears, the higher the coin would reach. Therefore, if the bulls maintain the upward trend, LINK/USD may continue with the bullish movement which could take the coin to the resistance levels of $10, $11, and $12 respectively.

On the other hand, any strong selling pressure may drag the price below the moving averages if the bears step back into the market, and should LINK trade below the daily opening price of $8, a bearish movement could take the price to the supports at $6, $7, and $8.

Against Bitcoin, the Chainlink is likely to cross above the upper boundary of the channel as the bulls increase their entries into the market. At the time of writing, LINK is currently moving to create more uptrends as it trades at 4300 SAT. If the Chainlink signals a more bullish rally, it could meet resistance at 4800 SAT and above.

However, traders can say that the market may continue the upward movement as the technical indicator Relative Strength Index (14) moves to cross into the overbought region. On the contrary, if the coin drops and heads to the downside, it could find support at 3700 SAT and below.

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