Chainlink Price Prediction for Today, May 27 – LINK Technical Analysis

The Chainlink price prediction may settle above the 9-day and 21-day moving averages as the coin heads to the upside.

Chainlink Prediction Statistics Data:

• Chainlink price now – $18.68
• Chainlink market cap – $10.9 billion
• Chainlink circulating supply – 587 million
• Chainlink total supply – 1 billion
• Chainlink Coinmarketcap ranking – #20

LINK/USD Market

Key Levels:

Resistance levels: $22.0, $23.0, $24.0

Support levels: $14.0, $13.0, $12.0

Looking at the daily chart, LINK/USD continues to trade above the 9-day and 21-day moving averages aiming to break above the upper boundary of the channel. However, the cryptocurrency is now trying to create a higher ground toward the upside, and should buyers keep the coin above the moving averages, it could gain additional resistance levels.

Chainlink Price Prediction: LINK/USD Trades Bullishly

The Chainlink price may spike above the channel and if the resistance of $18.83 gives way, the bull run may come into focus. However, the bullish scenario seems to dominate the market as buyers continue to post firm commitments into the market. Nevertheless, traders could see a sharp rise in the market price if the coin crosses above the upper boundary of the channel as this could further strengthen the market to the potential resistance levels of $22.0, $23.0, and $24.0.

On the downside, if the sellers resume into the market, a lower possible swing may likely retest the previous support below the 9-day and 21-day moving averages. Meanwhile, traders may expect a further drop to the support levels of $14.0, $13.0, and $12.0 should the coin slide toward the lower boundary of the channel.

LINK/BTC Breaks to the Upside

Against Bitcoin, the Chainlink price remains above the moving averages to reach the resistance level of 2700 SAT. However, this resistance level is expected to effectively exceed so that the market price may end up closing above it.

Moreover, if LINK/BTC slides below the 9-day and 21-day moving averages, it could refresh lows under 2500 SAT. A possible bearish continuation may likely meet the major support at 2100 SAT and below. Nonetheless, if the coin crosses above the upper boundary of the channel, the market price could hit the potential resistance at 3200 SAT and above.

However, @DaanCrypto informed his 372k followers on X (formerly Twitter) that $LINK has been one of the strongest performers this week. It has surged back above the Daily 200MA and a high-volume area. The critical level of support is now at the green horizontal region. If this level is flipped, $LINK could potentially return to the $20 range.

$LINK One of the strongest performers this week.

Broke back above the Daily 200MA and high volume area.

Last area of defense here at the green horizontal region. Flipping that should lead back to the $20s after I’d say. pic.twitter.com/PXKCdQVEZ8

— Daan Crypto Trades (@DaanCrypto) May 19, 2024

Alternatives to Chainlink

Chainlink (LINK) is poised for upward movement, aiming to cross above the upper boundary of its channel, with bulls maintaining positions above the 9-day and 21-day moving averages. Therefore, any further bullish movement may push the coin to the resistance level of $19.0. On that note, Dogeverse (DOGEVERSE) is gaining significant attention with its $15 million presale nearing completion before exchange listings, leading to speculation that it could be the next major meme token. In contrast, Chainlink, with its $10.9 billion market cap, may see limited growth due to its size. Investors are encouraged to act quickly to get in early on Dogeverse

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