Chainlink Price Jumps 20% in 7 Days! Can LINK Price Break $29 This Month?
Amid the ongoing bullish recovery in the cryptocurrency space, the valuations of the altcoin market have increased significantly in the short term. Furthermore, blue-chip altcoins such as Chainlink managed to reclaim the important resistance level of $23, highlighting the growing positive impact.
Considering the current market sentiment, will LINK price reach a new ATH this AltSeason? In this article, we present the latest Chainlink price analysis to understand the likely short-term price outlook!
LINK price returns to $23 mark!
Chainlink price surged 7.28% in 24 hours, with trading volume at $982.36 million, a change of +44.73%. Additionally, it has surged 17.69% over the past seven days and has rewarded investors with a year-to-date return of +17.89%.
Moving Average Convergence Divergence (MACD) shows rising green bars with its averages witnessing bullish convergence. This indicates increased buying pressure for Chainlink crypto tokens in the market.
Additionally, the Simple Moving Average (SMA) is showing a positive crossover on the Chainlink price chart. This highlights that the LINK coin price is likely to continue to appreciate in the future.
How high is Chainlink expected to go?
If the market maintains the bullish trend, Chainlink price will test its overhead resistance at $26. Additionally, if bullish sentiment intensifies, this could push LINK’s price towards overhead resistance at $29.
Conversely, if the bears regain momentum, Chainlink token price may retest the $23 support. Furthermore, if bears dominate the market, it could lead to a decline towards lower support at $20 this month.
Would love to find answers to questions like “Will LINK hit $1000?” read our Chainlink Price Prediction Find out the secret to long-term prices!
FAQ
Amid increasing bullish sentiment, LINK price could end the year reaching a yearly high of 47.
With increasing bullish price action, LINK cryptocurrency price may reach this price target in 2025.
As of this writing, one LINK crypto token is worth $23.38.
