Will LINK Reach $10 Ever Leave Range?

Chainlink price prediction showcases LINK being caged inside the horizontal range-bound area waiting to reach the $10 mark. Meanwhile, LINK crypto price is inside the horizontal range-bound area since May 2022 over the daily time frame chart. LINK crypto has been trying to recover towards the $10 mark but failed to sustain at the upper threshold of the consolidation phase that is $9.52487534. However, over last few months, LINK crypto couldn’t break out of the $8.590008245 resistance.

Chainlink crypto price has been experiencing an interesting roller coaster ride inside the long term consolidation phase over the daily time frame chart. It feels like the battle of bulls and bears continued for an eternity now.

Chainlink price was at $7.38080000 and lost around 0.25% of its market capitalization intraday. Trading volume increased by 5.66% intraday. This demonstrates that buyers are getting involved in the trade to push LINK crypto upwards. Volume to market cap ratio was at 4.74%.

Will Chainlink Price Skip Consolidation?

Chainlink price prediction highlights the long term consolidation phase of LINK crypto over the daily time frame chart. Meanwhile, buyers need to accumulate at a higher rate in order to push LINK crypto out of the range-bound area. However, volume change was below average and needs to grow during the day’s trading session. Meanwhile, LINK crypto is trying to sustain at 20-EMA to remain above 50, 100 and 200-days daily moving averages.

Chainlink price declined by 4.16% in a week but gained around 26.04% in a month. Moreover, LINK crypto soared by 2.43% in the last three months and declined by 5.05% in the last six months. Nevertheless, LINK crypto managed to gain around 31.77% year to date.

Technical indicators highlight the consolidation phase of LINK crypto. Relative strength index (RSI) shows sideways momentum on the Chainlink crypto chart. RSI was at 50 and is trying to remain above neutrality. Investors in Chainlink cryptocurrency need to wait for any directional change over the daily time frame chart.

Summary

Chainlink price prediction showcases LINK being caged inside the horizontal range-bound area waiting to reach the $10 mark. Meanwhile, buyers need to accumulate at a higher rate in order to push LINK crypto out of the range-bound area. Nevertheless, LINK crypto managed to gain around 31.77% year to date. Technical indicators highlight the consolidation phase of LINK crypto. Investors in Chainlink cryptocurrency need to wait for any directional change over the daily time frame chart.

Technical Levels

Support Levels: $7.05449878 and $6.81479126

Resistance Levels: $7.45856558 and $8.45947627

Disclaimer

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