$15 has been an important physiological indicator for Chainlink (LINK) for a long time. The coin, which has attempted to sustain gains above that level several times this year, has fallen again as market volatility continues to hit. So what will happen this time? Here are some tips:
This is the first time LINK has surpassed $15 in a few weeks.
$15 also proved to be a huge resistance level for LINK to rise.
Bullish momentum looks likely, but may eventually slow.
Data source: Tradingview
Chainlink (LINK) – Price Analysis and Forecast
Converting $15 from overhead resistance to support is a big move for LINK bulls. Based on the price action to date, the coin has surged to this level for the first time in a while; it seems that it is actually trying to consolidate here. The big question now is how long LINK can sustain price action above $15.
If the bulls do pull it off, then the coin will likely continue to test the next overhead resistance zone at $18. Based on the current bullish momentum, we expect LINK to surge to around $19.5 before trying to find more demand.
However, as many short-term traders are likely to lock in profits in this area, we expect a small pullback once LINK rises above $19.5 in the short-term. Also, the RSI has now turned neutral, suggesting that any bull run will eventually slow in a few days.
Is it time to buy Chainlink (LINK)?
Chainlink (LINK) was founded in 2017 and has grown into one of the major blockchain projects in the world. Its ATH is pretty low, but that also means it’s a very good option to buy right now. With LINK’s long-term potential, any competent investor should own it. Here’s where to buy Chainlink.