Amid the ongoing bullish rally in the crypto space, the altcoin market has added significant valuation in a short period of time. Additionally, top altcoins such as Chainlink managed to reclaim its important resistance level of $23, highlighting increased positive influence.
Given current market sentiment, will LINK price reach a new ATH this AltSeason? In this article, we covered the latest Chainlink price analysis to understand the possible short-term price outlook!
LINK Price recovers the $23 mark!
Chainlink price jumped 7.28% in 24 hours with a trading volume of $982.36 million, a change of +44.73%. Additionally, it has soared 17.69% over the past seven days and has rewarded its investors with a cumulative year-to-date return of +17.89%.
The Moving Average Convergence Divergence (MACD) displays an ascending green histogram with its averages indicating bullish convergence. This suggests increased buying pressure for the Chainlink crypto token in the market.
Additionally, the simple moving average (SMA) shows a positive crossover in the Chainlink price chart. This highlights that the price of LINK coin could continue to appreciate in value in the coming times.
How High Should Chainlink Go?
If the market maintains its bullish action, Chainlink price will test its upper resistance level of $26. Additionally, if the bullish sentiment intensifies, it could push LINK price towards its upper resistance level of $29.
On the contrary, if the bears regain momentum, Chainlink coin price could retest its support level of $23. Additionally, if the bears dominate the market, this could cause it to plunge towards its lower support level of $20 this month.
Curious to find out the answers to questions like “Will LINK ever hit $1,000?” » Read our Chainlink price prediction to uncover the mysteries of long-term prices!
FAQs
Amid increased bullish sentiment, LINK price could conclude the year with a yearly high of 47.
With increased bullish price action, the LINK crypto price could reach this price target in 2025.
At the time of writing, the value of one LINK crypto token was $23.38.
