Chainlink price analysis: LINK stable at $15.1 after bullish period

TL;DR Breakdown

• Chainlink price prediction appears to be bullish.
• The strongest resistance is present at $17.6.
• The strongest support is present at $13.4.

The Chainlink price analysis for March 1, 2022, reveals the market following a strong emerging bullish movement, signifying an excellent start of the month for LINK. The price of Chainlink has remained positive over the past few hours. On February 28, 2022, the price spiked and went from $13.6 to $15.1 and maintained this momentum and exceeded the 15.2 mark at $15.3, signifying a powerful bullish momentum. Chainlink has declined a little and depreciated the price to $15.1

The current price of Chainlink is $15.1, with a trading volume of $880,370,350. Chainlink has been up 10.07% in the last 24 hours. Chainlink currently ranks at #23 with a live market cap of $7,031,334,148.

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 $15.4, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $13.4, 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 be dominated by bulls. The LINK/USD price appears to be moving linearly towards stable dynamics, which could conserve the market’s bullish momentum.

The Relative Strength Index (RSI) is 61, showing an overbought cryptocurrency stock. This means that the cryptocurrency falls above the upper neutral region. Furthermore, the RSI appears to move straight, indicating a consistent market. The dormant RSI score is caused by the equivalence of selling and buying activity.

Chainlink Price Analysis for 1-day: LINK conserves bullish momentum

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 $17.6, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $12.6, 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.

However, the price of LINK seems to follow an upwards path towards the resistance, which could potentially shift the trend if it breaks; the fluctuation of the cost in either direction will decide the movement depending on the instability of the price in either direction.

The Chainlink price analysis shows the Relative Strength Index (RSI) to be 46, signifying a stable value for the cryptocurrency. This means that the cryptocurrency falls in the lower undervalued region. Furthermore, the RSI path seems to have shifted to a linear movement, indicating future stability. The dormant RSI score also means equivalence of buying and selling activity.

Chainlink Price Analysis Conclusion

The Chainlink price analysis reveals the cryptocurrency to follow a strong upwards trend with much room for bullish activity. The bulls have entirely taken over the market favored by the declining volatility, and they might be able to raise the price of LINK significantly and give the bears a run for their money.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.