{"id":445918,"date":"2020-10-09T07:48:43","date_gmt":"2020-10-09T07:48:43","guid":{"rendered":"https:\/\/wncen.com\/?p=445918"},"modified":"2024-06-11T14:06:52","modified_gmt":"2024-06-11T14:06:52","slug":"charted-chainlink-link-prints-bullish-break","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/charted-chainlink-link-prints-bullish-break\/","title":{"rendered":"Charted: Chainlink (LINK) Prints Bullish Break, But Facing Uphill Task Near $10"},"content":{"rendered":"
Chainlink (LINK) found a strong buying interest above the $8.50 support against the US Dollar. The price is now trading nicely above $9.20, but it must surpass $10.00 for more gains.<\/em><\/p>\n After another drop, chainlink (LINK) found support near the key $8.50 level<\/a>. The bears made two attempts to clear the $8.50 support, but they failed. A low is formed near the $8.36 level and the price started a fresh increase (similar to bitcoin<\/a>).<\/p>\n There was a break above the $8.80 and $9.00 resistance levels to start the current increase. The price broke the 23.6% Fib retracement level of the downward move from the $11.29 high to $8.36 low.<\/p>\n More importantly, there was a break above a major bearish trend line with resistance near $9.30 on the 4-hours chart of the LINK\/USD pair. The pair is now facing a tough resistance near the $9.65 level and the 100 simple moving average (4-hours).<\/p>\n <\/a><\/p>\n The main resistance is near the $9.80 and $10.00 levels (the last key breakdown zone). It is close to the 50% Fib retracement level of the downward move from the $11.29 high to $8.36 low.<\/p>\n A successful close above the $9.80 and $10.00 resistance levels could open the doors for a sharp increase. In the stated case, the price is likely to rise steadily towards the $11.00 and $11.20 levels.<\/p>\n If chainlink\u2019s price starts a downside correction, it might find support near the broken trend line and $9.25. The first major support is near the $9.20 level.<\/p>\n The major support is now forming near the $9.00 level, below which the price is likely to revisit the $8.50 support. Any further losses could lead the price towards the $7.20 support zone.<\/p>\n Technical Indicators<\/p>\n 4-hours MACD \u2013 The MACD for LINK\/USD is now moving nicely in the bullish zone.<\/p>\n 4-hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is now well above the 50 level.<\/p>\n Major Support Levels \u2013 $9.25, $9.20 and $9.00.<\/p>\n Major Resistance Levels \u2013 $9.65, $9.80 and $10.00.<\/p>\n","protected":false},"excerpt":{"rendered":" Chainlink (LINK) found a strong buying interest above the $8.50 support against the US Dollar. The price is now trading nicely above $9.20, but it must surpass $10.00 for more gains. Chainlink token price is showing positive signs above the $9.20 resistance against the US dollar. The price is now trading above the 100 simple moving average (4-hours), but facing hurdles near $9.80 and $10.00. There was a break above a major bearish trend line with resistance near $9.30 on the 4-hours chart of the LINK\/USD pair (data source from Kraken). The pair could rally if there is a clear break above the $9.80 and $10.00 resistance levels. Chainlink (LINK) Price is Gaining Traction After another drop, chainlink (LINK) found support near the key $8.50 level. The bears made two attempts to clear the $8.50 support, but they failed. A low is formed near the $8.36 level and the price started a fresh increase (similar to bitcoin). There was a break above the $8.80 and $9.00 resistance levels to start the current increase. The price broke the 23.6% Fib retracement level of the downward move from the $11.29 high to $8.36 low. More importantly, there was a break above a major bearish trend line with resistance near $9.30 on the 4-hours chart of the LINK\/USD pair. The pair is now facing a tough resistance near the $9.65 level and the 100 simple moving average (4-hours). LINK price trades above $9.20. Source: TradingView.com The main resistance is near the $9.80 and $10.00 levels (the last key breakdown zone). It is close to the 50% Fib retracement level of the downward move from the $11.29 high to $8.36 low. A successful close above the $9.80 and $10.00 resistance levels could open the doors for a sharp increase. In the stated case, the price is likely to rise steadily towards the $11.00 and $11.20 levels. Downsides Supported? If chainlink\u2019s price starts a downside correction, it might find support near the broken trend line and $9.25. The first major support is near the $9.20 level. The major support is now forming near the $9.00 level, below which the price is likely to revisit the $8.50 support. Any further losses could lead the price towards the $7.20 support zone. Technical Indicators 4-hours MACD \u2013 The MACD for LINK\/USD is now moving nicely in the bullish zone. 4-hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is now well above the 50 level. Major Support Levels \u2013 $9.25, $9.20 and $9.00. Major Resistance Levels \u2013 $9.65, $9.80 and $10.00.<\/p>\n","protected":false},"author":67,"featured_media":445920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[75941,75940,79480],"class_list":["post-445918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-linkbtc","tag-linkusd","tag-linkusdt"],"acf":[],"yoast_head":"\n\n
Chainlink (LINK) Price is Gaining Traction<\/h2>\n
LINK price trades above $9.20. Source: TradingView.com<\/a><\/pre>\n
Downsides Supported?<\/h2>\n