Resistance

Chainlink

Rise

The post <a href="https://coinpedia.org/price-analysis/with-over-80-rise-in-volume-chainlink-link-price-advances-to-enter-crucial-resistance-zone/" rel="noopener noreferrer nofollow">With Over 80% Rise in Volume, Chainlink (LINK) Price Advances to Enter Crucial Resistance Zone</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Chainlink has received much-deserved attention in the past few days, which has enabled the price to gain momentum and lead a fine upswing. This caused the price to surge above the descending trend line and after a small correction, the token started with a fresh upswing. The current trade set-up suggests the <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">LINK price</a> is poised to maintain a healthy upswing and may enter the decisive range anytime from now.
After the steep downfall from $17.62 in the first few days of April, the price rebounded and is trying hard to break the range. Despite repeated failures, the Marines do not appear to have lost hope of a bullish breakout. As a result, the 24-hour volume soared close to 80%, suggesting a huge increase in trading activity that may have an impact on the price for a prolonged period.&nbsp;
Will the LINK price make it $20 this month?
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/q-gNCUQ2I0SOELJkW7Lt0qepeO6UlahjlEC7sXv5DBVDMWW8FO3zcuo9xvRsvJpmJBVCvdX9t48ujpXfqo36h8VPlGSVy-fz4T3KtUV1CLKzRlmdWjrQiHrDZV0zdHX-nSAhDl-HL0F20nbA9msKXys" alt="">
</figure>
As seen in the above chart, the LINK price broke out of the descending triangle, a few days ago. The retracement has also been completed and a fresh upswing appears to have begun after rebounding from the local support. The ascending trend is expected to prevail for as long as the Gaussian channel signals a flip in the trend, which will be validated in a short while from now.&nbsp;
The price soared in the lower bands and is trying to breach through the upper bands. Hence, a break through these levels may validate a rise from a bearish influence and the beginning of a fresh bullish spell. On the other hand, the MACD shows a drop in buying pressure but is rising within the bullish range, indicating the continuation of an ascending consolidation for a while.&nbsp;
Therefore, the Chainlink (LINK) price is expected to enter the key resistance zone between $18.35 and $19.07 and after trading sideways for a while, a rise beyond $22 appears to be imminent.

With Over 80% Rise in Volume, Chainlink (LINK) Price Advances to Enter Crucial Resistance Zone

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