Chainlink News

Chainlink (LINK) Forwards its Recovery; $4 Doesn’t Seem Far Away

  • Chainlink has been continuing its effort to bring a decent recovery
  • It has made a 6% addition in the value over the last day on the line of the price trend of last week

After losing about $0.5 over the last week, Chainlink seems to be forwarded towards a bullish ride with full might. Over the last 24 hours, its value has been escalated by 6.60%, and it is nearing $4 mark gradually with a safety net hanging at $3.5.

Chainlink Price Analysis

Recently, the currency has already breached its first resistance at $3.7. Yesterday, it was being traded near $3.45 at the starting of the day, and over the next 7 hours and 45 minutes, it escalated by 4.36% and went on to touch $3.63. It was followed by another push that took the LINK price to $3.70 by 16:34 UTC. After a few minutes of sluggish movements, the price was again escalated by 2.75%, and it gathered $0.10 by 01:55 UTC.

Chainlink (LINK) Price News
LINK/USD Chart By TradingView

Chainlink’s price movement of the past seven days has been volatile. Its price range of this period hovers between $3.2 and $3.7. LINK coin’s market cap stands tall at 1.302 billion USD, and after Bitcoin’s moderate recovery in the market, the coin may get a further push.

As per our prediction, Chainlink’s price may soon go on to find shelter at the next resistance point at $3.85, and in the medium-term, $4 mark seems a likely spot for the coin. However, for any untoward movements, the support point at $3.5 seems viable.

Paul Jolin

Paul Jolin is an economist having experience in financial research. He joined CoinNewsSpan in 2017 and since then has been working with the team to offer best price analysis and review stories on the crypto space. He is optimistic about blockchain technology's use cases in terms of financial freedom. He also has experience as an independent trader.

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