Convergence

Chainlink

Rise

Divergence

The post <a href="https://coinpedia.org/price-analysis/chainlink-price-hints-bullish-reversal-link-price-to-record-20-jump-soon/">Chainlink Price Hints Bullish Reversal! LINK Price To Record 20% Jump Soon?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The crypto industry has displayed significant price volatility over the recent days, indicating a mixed sentiment in the market. Further, the LINK price has displayed a neutral trend during the past week as it has gained less than 2% in valuation during this time.&nbsp; 
Chainlink’s price traded in a closed range between $14.506 and $15.411 for a whole, following which the market lost momentum, and the <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/">LINK price</a> recorded a loss of approximately 17% in valuation. After testing its support level of $12.829, the bulls regained momentum and experienced a bounce back. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/69xIe9FEHya7Kkhu1DLlndAwpLmzu7ETOluQquDDNX5kb9krsTS5r5oxTL_1ozcdGKdMOfmtvA5-na4NDCYYVUplO_0sMU6_TYqez70E_Rq2YHwUV_I-V2sVhS8-ZvYi_Ri9-fqhRqEdocowffMRwHo" alt="Chainlink Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: LINK/USDT
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</figure> 
However, the rally was short-lived as the coin faced rejection at $14.506, after which it displayed minor price fluctuations. As the market volatility grew, the Chainlink price recorded significant price action. The LINK price traded between $13.893 and $16.477 in a rising channel pattern. 
Following this, the price failed to break out of its resistance level at $16.477, resulting in a price breakdown. The <a href="https://markets.coinpedia.org/chainlink/" target="_blank" rel="noreferrer noopener">LINK token</a> recorded a correction of over 15.5% in its value over the next few days. The bulls held the price above the support level of $13.893, resulting in a bounce back. 
Since then, the price has been displaying a constant rise, indicating a rise in the bull power. Positively, the Cross EMA 50/200 day shows a high possibility of a Golden Cross, suggesting a massive price action in the coming days. 
Also Read: <a href="https://coinpedia.org/price-analysis/solana-price-regains-momentum-will-sol-price-hit-120-this-week/">Solana Price Regains Momentum! Will SOL Price Hit $120 This Week?</a> 
<h2 class="wp-block-heading" id="h-will-link-price-rise-back-up">Will Link Price Rise Back Up?</h2> 
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating a bullish sentiment in the crypto space. Further, the averages show a constant rise, suggesting the LINK price will continue to rise in the coming days. 
If the bulls push the price above the resistance level of $15.411, the Chainlink price will test its upper resistance level of $16.477. Maintaining the price at that level will set the stage for the LINK token to attempt to test its resistance level of $17.677 in the coming time. 
Conversely, if the bears overpowered the bulls, the LINK token will fall to test its support level of $14.506. Moreover, if the bears continue to hold power over the bulls, it will plunge and prepare to test its lower support level of $12.829.

Chainlink Price Hints Bullish Reversal! LINK Price To Record 20% Jump Soon?

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