Bitcoin

Resistance

Chainlink

LINKUSD

Chainlink’s LINK price is moving higher above the $20.00 resistance. The price is now up over 5% and might aim for a move toward the $25.00 resistance. 
<ul> 
 <li>Chainlink price is showing positive signs above $20.00 against the US dollar.</li> 
 <li>The price is trading above the $20.50 level and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a key bearish trend line with resistance near $20.00 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 $22.00 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 $18.50. Earlier, LINK price formed a base above the $16.75 and started a fresh increase. 
There was a break above a key bearish trend line with resistance near $20.00 on the 4-hour chart of the LINK/USD pair. The bulls pumped the pair above the $22.00 level. A new multi-month high was formed at $22.85 before the price started a downside correction. 
There was a move below the $22.00 level. The price declined below the 23.6% Fib retracement level of the upward move from the $16.75 swing low to the $22.85 high. 
LINK is now trading above the $20.50 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-rejects-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-consolidation-3800/" target="_blank" rel="noopener ">Ethereum</a>. If the bulls remain in action, the price could rise further. Immediate resistance is near the $21.80 level. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597253" src="https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461" alt="LINK Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/LINK-Price-Chainlink.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/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 $22.00 zone. A clear break above $22.00 may possibly start a steady increase toward the $23.00 and $24.20 levels. The next major resistance is near the $24.80 level, above which the price could test $25.00. 
<h2 id="are-dips-limited">Are Dips Limited?</h2> 
If Chainlink’s price fails to climb above the $22.00 resistance level, there could be a downside correction. Initial support on the downside is near the $21.00 level. 
The next major support is near the $20.00 level or the 50% Fib retracement level of the upward move from the $16.75 swing low to the $22.85 high, below which the price might test the $18.80 level. Any more losses could lead LINK toward the $17.65 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 – $21.00 and $20.00. 
Major Resistance Levels – $22.00 and $23.00.

LINK Price Regains Strength, Why Chainlink Could Surge Over 10%

Table of Contents

NewsBTC

Other articles published on Mar 11, 2024

BlockDAG Presale 5000x ROI Potential Surpasses $3.5M Mark Amid Top Cryptos Litecoin and Chainlink...

Ethereum triggers the quantum alert! Vitalik Buterin on the warpath!

Innovation Kelexo (KLXO) Sees Unprecedented Support: Ethereum (ETH) and Stellar (XLM) Holders Rus...

BlockDAG Dazzles in Tokyo’s Shibuya Crossing with Spectacular Keynote Video Display

Chainlink's Price Increased More Than 7% Within 24 hours

XRP Mystery: Massive XRP Tokens Shifted From Exchanges Spark Intrigue

Join our free newsletter for daily crypto updates!