Chainlink price analysis: LINK climbs with splendid momentum at $17.6

TL;DR Breakdown

• Chainlink price prediction appears to be bullish.
• The strongest resistance is present at $28.9.
• The strongest support is present at $14.24.

The Chainlink price analysis of January 30, 2022, reveals the market following a solid bullish. The price of Chainlink has been skyrocketing over the past few hours. On January 30, 2022, the price went from $16.1 to $17.6 on the same day, a powerful bullish momentum. Chainlink continues with the same velocity and aims for higher highs. The current price of Chainlink is $17.6, with a trading volume of $801,183,945. Chainlink has been up 7.37% in the last 24 hours.

LINK/USD 4-hour price analysis: Latest developments

The Chainlink price analysis reveals the market’s volatility following an increasing movement. This means that the price of Chainlink is becoming more prone to undergo variable change on either extreme. The upper limit of the Bollinger’s band is present at $17.1, which serves as a point for support rather than resistance for LINK. The lower limit of the Bollinger’s band is present at $14.2, which serves as the most substantial support for LINK.

The LINK/USD price appears to be moving over the price of the Moving Average, signifying a bullish movement. The market’s trend seems to be dominated by bulls. The LINK/USD price appears to be crossing over the upper limit of the Bollinger’s band, signifying a breakout happening in the market. The market might soon undergo a reverse trend, but the price will increase significantly for now.

The Relative Strength Index (RSI) is 67, showing an overbought cryptocurrency stock. This means that the cryptocurrency falls in the overvalued region. The RSI appears to move upwards, indicating a further increase in the RSI score and movement towards severe inflation. This may result in a reverse trend very soon if the RSI score manages to top the threshold. Dominant buying activity causes the RSI to skyrocket.

Chainlink Price Analysis for 1-day: LINK enters bullish domain

The Chainlink price Analysis reveals the market’s volatility following a declining movement, which means that the price of Chainlink is becoming less prone to experience variable change on either extreme. The upper limit of the Bollinger’s band is present at $28.9, which serves as the most vigorous resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $11.4, which serves as the most substantial support for LINK.

The LINK/USD price appears to be moving over the price of the Moving Average, signifying a bullish movement. The market’s trend seems to have crossed over the curve of the Moving Average just recently. The less volatile market may prove to be favorable for the bulls as they have good chances of maintaining their movement, giving the bears a hard time to recover. Bears engulfed the market in a bearish trend for the last few weeks. It seems the bulls have finally managed to pull through.

The Chainlink price analysis shows the Relative Strength Index (RSI) to be 41, signifying a stable value for the cryptocurrency. This means that the cryptocurrency falls in the lower undervalued region. The RSI path can be seen to have shifted to an inclining movement, which may indicate future increments in the price and direction towards stability. The increase in RSI score also means dominant buying activity.

Chainlink Price analysis Conclusion:

The conclusion of the Chainlink price analysis shows that the recognition made in the current behavior of LINK/USD indicates that it is following a massive upwards trend with bearish possibilities. LINK/USD has risen smoothly to the $17.5 mark; the has price has reached $17.6 on January 30, 2022, and might keep growing until the $18 mark due to the solid stance of bulls.

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