Bitcoin

Resistance

Chainlink

LINKUSD

Chainlink’s LINK price is moving higher above the $15.00 resistance. The price is now up over 5% and might aim for a move toward the $18.00 resistance. 
<ul> 
 <li>Chainlink price is showing positive signs above $14.50 against the US dollar.</li> 
 <li>The price is trading above the $15.00 level and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a key bearish trend line with resistance near $14.85 on the 4-hour chart of the LINK/USD pair (data source from Kraken).</li> 
 <li>The price could rally further if it clears the $16.40 resistance zone.</li> 
</ul> 
<h2 id="chainlink-link-price-eyes-more-upsides">Chainlink (LINK) Price Eyes More Upsides</h2> 
In the past few sessions, Chainlink bulls were able to send the price above a few key hurdles at $14.50. Earlier, LINK price formed a base above the $12.50 and started a fresh increase. 
There was a break above a key bearish trend line with resistance near $14.85 on the 4-hour chart of the LINK/USD pair. The bulls pumped the pair above the 50% Fib retracement level of the downward move from the $17.59 swing high to the $12.50 low. 
LINK is now trading above the $15.00 level and the 100 simple moving average (4 hours). The price is up over 5% and outpacing both <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-turns-at-risk-40k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-faces-crucial-test-2440/" target="_blank" rel="noopener ">Ethereum</a>. If the bulls remain in action, the price could rise further. Immediate resistance is near the 61.8% Fib retracement level of the downward move from the $17.59 swing high to the $12.50 low at $15.65. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-569540" src="https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461" alt="Chainlink (LINK) " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/LINK-Price-Chainlink.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/LINKUSD/" target="_blank" rel="noopener nofollow">LINKUSD on TradingView.com</a> 
The next major resistance is near the $16.40 zone. A clear break above $16.40 may possibly start a steady increase toward the $17.50 and $18.00 levels. The next major resistance is near the $18.80 level, above which the price could test $20.00. 
<h2 id="are-dips-limited">Are Dips Limited?</h2> 
If Chainlink’s price fails to climb above the $15.65 resistance level, there could be a downside correction. Initial support on the downside is near the $14.50 level. 
The next major support is near the $13.70 level, below which the price might test the $13.00 level. Any more losses could lead LINK toward the $12.50 level in the near term. 
Technical Indicators 
4 hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone. 
4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. 
Major Support Levels – $15.00 and $14.50. 
Major Resistance Levels – $15.65 and $16.50.

LINK Price Rallies Over 5%, A New Uptrend In The Making For Chainlink?

Table of Contents

NewsBTC

Other articles published on Jan 15, 2024

Binance Integrates Manta Network Amid $800M TVL Surge

Ethereum PoS validator count falls to YTD low: What’s next?

Crypto Fuels Illicit Economies in Southeast Asia: UN Report

Bitfinex Thwarts $15 Billion Worth Attack on XRP Tokens on Platform

Bitcoin (BTC) Faces Possible Retreat to $38,000 – $39,000 Range, Warns Famous Analyst

Shiba Coin’s Future: Delisting on Uphold and New Listing on EarnBit

Join our free newsletter for daily crypto updates!