LINK soars to $6.64 after a successive bullish run

Chainlink price analysis for today is indicating a positive trend. Chainlink (LINK) has had a great bullish run over the last 24 hours. The coin is currently trading at $6.68 and is up by 13.8 percent. The market capitalization of the coin has also reached $$3,033,011,035.2 while the 24-hour trading volume of the coin has also increased and is currently at $$1,055,050,642.76. The coin started the day at $ 5.41 and reached a high of $6.69. The bulls have been able to push the prices higher and are currently facing resistance at $7.5.

Chainlink price action on a daily chart: LINK gains 13.8 percent

The Chainlink price is up by 13.8 percent today as the bulls take control of the market. The market has been in a bullish trend since the beginning of the day and has reached a high of $6.69. The prices are currently facing resistance at $7.5 and if the bulls can break this level, we can expect the prices to head towards $8.5 in the near term.

The one-day Chainlink price analysis shows LINK price is going on the bullish side as the LINK prices are approaching $8.46 after a successive bullish streak. The current market conditions are in favor of the bulls as the RSI indicator is well above the 60 levels and is currently trading at 64.65. The MACD indicator is also in the bullish zone as the signal line is well above the histogram.

The moving averages are also indicating a bullish trend as the 50-day MA is well above the 200-day MA.  The 100-day MA is currently at $6.07 and is well above the 200-day MA which is at $5.47. This indicates that the path of least resistance is on the upside and we can expect the prices to head towards $8 in the near term. The volatility is currently starting to increase, and the Bollinger bands’ values are currently starting to widen, and this is a sign that the prices may see some volatile price action in the near future.

Chainlink price analysis on a 4-hour price chart: LINK tests resistance at $7.60

The Chainlink prices are currently testing the resistance at $7.60 and if the bulls can break this level, we can expect the prices to head towards $8.5 in the near term. The RSI indicator is well above the 60 levels, and this indicates that the bulls have control over the market. The MACD indicator is also in the bullish zone as the signal line is well above the histogram.

The Bollinger bands’ values are currently widening, which is a sign of increased volatility in the prices. Overall, the trend is in favor of the bulls, and the prices may soon test the $7.00 resistance levels. Moreover, the upper band has moved above the price, which is a bullish sign. Also, as per the Fibonacci retracement levels, the prices have retraced 50 percent of the recent move from $4.20 to $7.60, which is another bullish sign.

Chainlink price analysis conclusion

Chainlink price analysis shows that LINK is currently in a strong uptrend as the bulls take control of the market. The technical indicators are all indicating a bullish trend, and we can expect the prices to head towards $8.5 in the near term.

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