Convergence

Idle

Chainlink

MN Coin

Divergence

<img width="2710" height="1454" src="https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56.png" class="attachment-full size-full wp-post-image" alt="Chainlink price prediction chart" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56.png 2710w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px">
Chainlink (LINK) price appears to have reaffirmed its position above a newly found support at $10 after facing rejection from $12. The leading price feed oracle token has over the last few weeks stood out as one of the biggest bullish contenders, increasing by 45% in a month to trade at $11.20 on Friday. 
<h2 class="p1" id="chainlink-price-to-hit-18">Chainlink Price To Hit $18?</h2> 
The weekly chart shows&nbsp;<a href="https://coingape.com/price/chainlink/">Chainlink price</a>&nbsp;trading above all the bull market indicators starting with the 50-day Exponential Moving Average (EMA) (red), the 100-day EMA (blue), and the 200-day EMA (purple). 
Support above the grey zone as illustrated on the chart is expected to be the springboard that boosts LINK above the immediate resistance at $12. 
The Moving Average Convergence Divergence (MACD) indicator’s position above the neutral area calls upon traders to keep seeking exposure to LINK token longs. In addition to the buy signal which manifested with the blue MACD line crossing above the red signal line, green histograms reinforce the bullish outlook. 
Based on the On-Balance Volume (OBV) traders have a strong bullish conviction and are willing to bet on a continued&nbsp;<a href="https://coingape.com/markets/chainlink-price-prediction-can-bulls-defend-10-support/">Chainlink price rally</a>. 
<figure id="attachment_163309" aria-describedby="caption-attachment-163309" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56.png"><img decoding="async" class="size-full wp-image-163309" src="https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56.png" alt="Chainlink price prediction chart " width="2710" height="1454" srcset="https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56.png 2710w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-300x161.png 300w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-1224x657.png 1224w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-768x412.png 768w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-1536x824.png 1536w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-2048x1099.png 2048w, https://coingape.com/wp-content/uploads/2023/11/LINKUSD_2023-11-03_20-39-56-150x80.png 150w" sizes="(max-width: 2710px) 100vw, 2710px"></a>
 <figcaption id="caption-attachment-163309" class="wp-caption-text">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Chainlink price prediction chart | Tradingview
 </figcaption>
</figure> 
<blockquote> 
 With the expected break above $12 materializing, Chainlink price would be in a suitable spot to rally to $18. However, profit-booking can start at $14.5 with extremely bullish traders waiting on the uptrend to play out to $18. 
</blockquote> 
Meanwhile, declines below Chainlink’s immediate support at $10 could see the Oracle token. Sweep liquidity at $7.5, the local support. However, it is important to realize that all three moving averages are in line to prevent declines from wiping out the progress made over the last few weeks. 
The Relative Strength Index (RSI) although currently in the overbought region and depicting a strong bullish trend, could signal a potential pullback if it slides into the neutral area. 
Fundamental data from blockchain analytics platform Santiment reveals that the supply of LINK token on exchange has been relatively low, thus reducing the potential for selling pressure. 
<figure id="attachment_163308" aria-describedby="caption-attachment-163308" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment-.png"><img decoding="async" class="size-full wp-image-163308" src="https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment-.png" alt="Chainlink fundamentals" width="2560" height="867" srcset="https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment-.png 2560w, https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment--300x102.png 300w, https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment--1224x415.png 1224w, https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment--768x260.png 768w, https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment--1536x520.png 1536w, https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment--2048x694.png 2048w, https://coingape.com/wp-content/uploads/2023/11/Chainlink-fundamentals-Santiment--150x51.png 150w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-163308" class="wp-caption-text">
 Chainlink fundamentals | Santiment
 </figcaption>
</figure> 
Idle or Dorman supply has remained relatively quiet implying that long-term holders are willing to keep&nbsp;<a href="https://coingape.com/chainlink-price-prediction-link-explodes-to-10-as-network-activity-skyrockets-to-3-month-highs/">holding Chainlink</a> despite the increase in value. However, a higher MVRV ratio reflects that most holders are in profit relative to when they bought LINK. This is not a bullish sign for Chainlink price as it suggests a possible increase in selling pressure. 
<h3 class="p1" id="related-news">Related News</h3> 
<ul> 
 <li class="p1"><a href="https://coingape.com/breaking-us-treasury-cracks-down-on-russian-money-laundering-queenpin/?utm_source=24hrsupdateall">Breaking: US Treasury Cracks Down on Russian Money Laundering Queenpin</a></li> 
 <li><a href="https://coingape.com/us-seizes-54-mln-crypto-including-ethereum-in-narcotics-scheme/?utm_source=24hrsupdateall">US Seizes $54 Mln Crypto, Including Ethereum, In Narcotics Scheme</a></li> 
 <li><a href="https://coingape.com/cardano-ada-defies-broader-market-correction-amid-whale-transactions-whats-next/?utm_source=24hrsupdateall">Cardano (ADA) Defies Broader Market Correction Amid Whale Transactions, What’s Next?</a></li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/chainlink-price-validates-support-at-11-as-uptrend-targets-18-are-buyers-entering-now/">Chainlink Price Validates Support At $10 As Uptrend Targets $18, Are Buyers Entering Now?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Chainlink Price Validates Support At $10 As Uptrend Targets $18, Are Buyers Entering Now?

Table of Contents

Coingape News Media

Other articles published on Nov 3, 2023

How to Buy Huobi Token?

Bitcoin Fake Breakout? Will BTC Price Retest $30,000 Before Attempting A New ATH?

OpenSea Pro integrates with the Polygon network to streamline NFT trades

Ethereum (ETH) Fees Surge by 30%, Is Network Coming Back?

This Altcoin Season Signal is Flashing As it Did in 2021, But Why This Time is Different

Dubai regulator approves XRP, TON

Join our free newsletter for daily crypto updates!