{"id":446092,"date":"2020-10-12T07:48:36","date_gmt":"2020-10-12T07:48:36","guid":{"rendered":"https:\/\/wncen.com\/?p=446092"},"modified":"2024-06-11T14:06:57","modified_gmt":"2024-06-11T14:06:57","slug":"chainlink-link-seems-unstoppable-11","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/chainlink-link-seems-unstoppable-11\/","title":{"rendered":"Charted: Chainlink (LINK) Seems Unstoppable As Bulls Take Over Crypto Market"},"content":{"rendered":"
Chainlink (LINK) started a strong increase above the $9.65 resistance against the US Dollar. The price is now attempting another upside break above the $11.00 resistance.<\/em><\/p>\n In the last technical analysis, we saw a bullish breakout in chainlink (LINK)<\/a> above the $9.00 resistance level. The price remained in a positive zone and it gained pace above the $10.00 resistance level (similar to bitcoin<\/a> above $11,000).<\/p>\n The price rallied over 8% and it broke the 61.8% Fib retracement level of the key decline from the $11.30 swing high to $8.35 swing low. During the rise, there was a break above a crucial bearish trend line at $9.50 on the 4-hours chart of the LINK\/USD pair.<\/p>\n The price is now testing the $11.00 resistance and it is well above the 100 simple moving average (4-hours). It is also trading above the 76.4% Fib retracement level of the key decline from the $11.30 swing high to $8.35 swing low.<\/p>\n <\/a><\/p>\n It seems like there is a short-term rising channel forming with support near $10.50 on the 4-hours chart of the same chart. A clear break above the $11.00 resistance level might open the doors for a sustained upward move.<\/p>\n The next immediate resistance is near the $11.25 level, above which the price could rally towards the $12.00 level. Any further gains could lead the price towards the $13.20 level.<\/p>\n If chainlink\u2019s price starts a downside correction, it might find support near the channel trend line at $10.50. The first major support is near the $10.20 level.<\/p>\n The main support is now forming near the $9.80 level and the 100 simple moving average (4-hours). Any further losses could lead the price towards the $9.65 support zone (the previous breakout 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) started a strong increase above the $9.65 resistance against the US Dollar. The price is now attempting another upside break above the $11.00 resistance. Chainlink token price is showing positive signs above the $10.00 resistance against the US dollar. The price is now testing the $11.00 resistance and it is well above the 100 simple moving average (4-hours). There is a short-term rising channel forming with support near $10.50 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 $11.00 and $11.25 resistance levels. Chainlink (LINK) Price Rallies 8% In the last technical analysis, we saw a bullish breakout in chainlink (LINK) above the $9.00 resistance level. The price remained in a positive zone and it gained pace above the $10.00 resistance level (similar to bitcoin above $11,000). The price rallied over 8% and it broke the 61.8% Fib retracement level of the key decline from the $11.30 swing high to $8.35 swing low. During the rise, there was a break above a crucial bearish trend line at $9.50 on the 4-hours chart of the LINK\/USD pair. The price is now testing the $11.00 resistance and it is well above the 100 simple moving average (4-hours). It is also trading above the 76.4% Fib retracement level of the key decline from the $11.30 swing high to $8.35 swing low. LINK price trades above $10.50. Source: TradingView.com It seems like there is a short-term rising channel forming with support near $10.50 on the 4-hours chart of the same chart. A clear break above the $11.00 resistance level might open the doors for a sustained upward move. The next immediate resistance is near the $11.25 level, above which the price could rally towards the $12.00 level. Any further gains could lead the price towards the $13.20 level. Downsides Supported? If chainlink\u2019s price starts a downside correction, it might find support near the channel trend line at $10.50. The first major support is near the $10.20 level. The main support is now forming near the $9.80 level and the 100 simple moving average (4-hours). Any further losses could lead the price towards the $9.65 support zone (the previous breakout 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":446094,"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-446092","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 Rallies 8%<\/h2>\n
LINK price trades above $10.50. Source: TradingView.com<\/a><\/pre>\n
Downsides Supported?<\/h2>\n