LINK Price Getting Ready for $10

Chainlink price prediction stays bullish for October and suggests rally is likely to continue. LINK price rose approximately 39% in the previous month and formed a bullish pattern.

Chainlink crypto price showed V-share recovery from $6.00 support and rose upward by forming higher high candles. It managed to climb above the $ 50-day and 200-day EMA which fueled the positive momentum.

In the middle of September, the LINK price breakout of $6.500 hurdle level with strong buying volume. It grabbed the attention of the investors and fueled the further rally.

Moreover, the increase in buying volume denotes some genuine investors are waiting for a long time to invest and finally got the breakout.

Chainlink’s price showed a range expansion and racing toward the YTD high. On the higher side, $8.434 will act as an immediate hurdle for the bulls.

So, currently LINK price is trading at $8.133 with an intraday decline of -0.71%. Therefore, it will interesting to see how the price will react in the coming weeks which will decide the next direction.

Will Chainlink Price Perform in October?

Chainlink price prediction suggests a rise and remains bullish for the long term. The price pattern of LINK crypto shows that it has formed a strong base near $6.00. So any short-term retracement toward the support will be bought up.

If the buyers of Chainlink crypto succeed in the breakout of the $8.434 hurdle. Then it might show a sharp rise and begin the journey to reach $10.00.

However, LINK price has rallied a lot in the previous month so short-term consolidation is needed for range expansion. The analysis suggests that the Chainlink crypto is in the bulls’ grip and getting ready for the next phase of the rally.

LINK Price Bullish on Weekly Time Frame

LINK price formed a bullish pattern on a weekly and daily time frame. The bulls are active and support levels are shifting higher. It shows the confidence of inverters and increases the probability of the breakout.

Meanwhile, BTC and ETH price is also recovering which improves the crypto market sentiment. If the overall market performs well in October then LINK crypto might also participate in the rally.

The MACD curve generated a sharp positive crossover and the histogram bar is on the rise. It indicates bullish momentum is likely to continue in October.

Conclusion

Chainlink price prediction is bullish for October as well as for the next few months. It performed well in September and the rally is likely to continue in coming months.

The analysis suggests that the LINK price is inside the bulls’ grip and the probability of a $8.434 breakout is high.

Technical levels

Resistance levels: $8.434 and $9.453
Support levels: $6.996 and $5.613

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.