{"id":456199,"date":"2021-02-08T07:18:31","date_gmt":"2021-02-08T07:18:31","guid":{"rendered":"https:\/\/wncen.com\/?p=456199"},"modified":"2024-06-11T14:13:11","modified_gmt":"2024-06-11T14:13:11","slug":"chainlink-link-steadies-above-24","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/chainlink-link-steadies-above-24\/","title":{"rendered":"Charted: Chainlink (LINK) Steadies above $24, Fresh Increase To $27 Likely"},"content":{"rendered":"
Chainlink (LINK) traded to a new yearly high near $27.00 before correcting lower, similar to bitcoin and Ethereum. The price is now holding a major support at $24.00 and the 100 SMA (H4).<\/em><\/p>\n After a close above $25.00<\/a>, chainlink (LINK) extended its upward move against the US Dollar, similar to bitcoin<\/a> and Ethereum<\/a>. There was a clear break above the $26.50 level and the price traded to a new high at $27.03.<\/p>\n The price started a downside correction from $27.03 and traded below the $26.00 level. There was a break below the $25.50 support level. The price even spiked below the $24.00 level and traded as low as $22.92.<\/p>\n However, the price remained well supported and it recovered above $23.50. LINK price is now trading nicely above the $24.00 level and the 100 simple moving average (4-hours). It already tested the 50% Fib retracement level of the recent decline from the $27.03 high to $22.92 low.<\/p>\n <\/a><\/p>\n There is also a key bullish trend line forming with support near $23.85 on the 4-hours chart of the LINK\/USD pair. On the upside, the price is facing resistance near the $25.00 level.<\/p>\n The next major resistance is near the $25.50 level. It is close to the 61.8% Fib retracement level of the recent decline from the $27.03 high to $22.92 low. A clear break above $25.50 may possibly start a fresh increase towards the $27.00 and $28.00 levels.<\/p>\n If chainlink\u2019s price fails to climb above the $25.00 level, there could be a fresh decline. An initial support on the downside is near the $24.00 level and the trend line.<\/p>\n A break below the trend line support might push the price further lower towards $23.00. Any more losses could lead the price towards the $22.00 level.<\/p>\n Technical Indicators<\/p>\n 4-hours MACD \u2013 The MACD for LINK\/USD is gaining momentum in the bullish zone.<\/p>\n 4-hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is currently close to the 50 level.<\/p>\n Major Support Levels \u2013 $24.00, $23.85 and $22.00.<\/p>\n Major Resistance Levels \u2013 $25.00, $25.50 and $27.00.<\/p>\n","protected":false},"excerpt":{"rendered":" Chainlink (LINK) traded to a new yearly high near $27.00 before correcting lower, similar to bitcoin and Ethereum. The price is now holding a major support at $24.00 and the 100 SMA (H4). Chainlink token price started a downside correction from the $27.03 high against the US dollar. The price is well bid above the $24.00 level and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $23.85 on the 4-hours chart of the LINK\/USD pair (data source from Kraken). The price is showing positive signs and it could start a fresh increase towards the $27.00 level. Chainlink (LINK) Remains Well Supported After a close above $25.00, chainlink (LINK) extended its upward move against the US Dollar, similar to bitcoin and Ethereum. There was a clear break above the $26.50 level and the price traded to a new high at $27.03. The price started a downside correction from $27.03 and traded below the $26.00 level. There was a break below the $25.50 support level. The price even spiked below the $24.00 level and traded as low as $22.92. However, the price remained well supported and it recovered above $23.50. LINK price is now trading nicely above the $24.00 level and the 100 simple moving average (4-hours). It already tested the 50% Fib retracement level of the recent decline from the $27.03 high to $22.92 low. Source: LINKUSD on TradingView.com There is also a key bullish trend line forming with support near $23.85 on the 4-hours chart of the LINK\/USD pair. On the upside, the price is facing resistance near the $25.00 level. The next major resistance is near the $25.50 level. It is close to the 61.8% Fib retracement level of the recent decline from the $27.03 high to $22.92 low. A clear break above $25.50 may possibly start a fresh increase towards the $27.00 and $28.00 levels. More Losses? If chainlink\u2019s price fails to climb above the $25.00 level, there could be a fresh decline. An initial support on the downside is near the $24.00 level and the trend line. A break below the trend line support might push the price further lower towards $23.00. Any more losses could lead the price towards the $22.00 level. Technical Indicators 4-hours MACD \u2013 The MACD for LINK\/USD is gaining momentum in the bullish zone. 4-hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is currently close to the 50 level. Major Support Levels \u2013 $24.00, $23.85 and $22.00. Major Resistance Levels \u2013 $25.00, $25.50 and $27.00.<\/p>\n","protected":false},"author":67,"featured_media":456201,"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-456199","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) Remains Well Supported<\/h2>\n
Source: LINKUSD on TradingView.com<\/a><\/pre>\n
More Losses?<\/h2>\n