TL;DR Failure

  • Chainlink price forecast seems bullish.
  • The strongest resistance is at $23.9.
  • The strongest support is at $15.3.

Chainlink price analysis for February 4, 2022 shows a strong bullish trend in the market. Over the past few hours, Chainlink's price has been fluctuating and rising even more. On February 3, 2022, the price plunged from $15.9 to $15.3, but regained momentum and rose to $16.5, indicating strong bullish momentum. Chainlink continues to advance at the same pace and is aiming higher. Chainlink's current price is $16.50 with a trading volume of $717,201,990. Chainlink has risen 6.46% in the last 24 hours. Chainlink is currently ranked #22 with a real-time market cap of $7,692,693,288.

LINK/USD 4-hour price analysis: latest developments

Chainlink price analysis reveals the volatility of the market after a decline. This means that Chainlink's price becomes less susceptible to variable changes at either extreme. The upper bound of the Bollinger band is at $17.6, which is a support point for LINK and not a resistance point. The lower limit of the Bollinger band is at $15.3, which is the maximum support for LINK.

LINK / USD price seems to be moving above the price of the moving average, indicating a bullish trend. The market trend seems to be dominated by the long side. LINK / USD price seems to be moving upwards to the resistance band and may break it in the next few hours; only time will give the answer.

LINK/USD 4-hour price K-line chart Source: TradingView

The Relative Strength Index (RSI) stands at 51, indicating stable cryptocurrency stocks. This means that cryptocurrencies are in the upper neutral zone. The RSI seems to be moving slightly upwards, indicating a further increase in the RSI score and a stabilizing dynamic, which also indicates dominant buying behavior.

Chainlink 1-day price analysis: long seat volume market

Chainlink price analysis reveals the volatility of the market after a decline, which means that Chainlink's price becomes less prone to experience variable changes at either extreme. The upper limit of the Bollinger band is $23.9, which is the strongest resistance for LINK. Conversely, the lower limit of the Bollinger band is $11.8, which is the strongest support for LINK.

LINK / USD price seems to be moving above the price of the moving average, indicating a bullish trend. The market trend seems to have just crossed the curve of the moving averages. A less volatile market may be beneficial for the bulls, as they have a good chance to maintain their trend, making it difficult for the shorts to recover.

However, the price of LINK seems to be moving in a straight line, which may indicate unpredictability; the trend will depend on cost fluctuations in either direction.

LINK/USD 1-day price K-line chart Source: TradingView

Chainlink price analysis shows a Relative Strength Index (RSI) of 39, indicating a stable value for cryptocurrencies. This means that cryptocurrencies are in the lower end of the undervalued spectrum. The RSI path seems to have shifted towards an inclined movement, indicating a future price increase and a direction towards stability. An increase in the RSI score also implies major buying activity.

Chainlink price analysis concludes.

Chainlink price analysis shows that the cryptocurrency is following a strong uptrend with plenty of room for bullish activity. The bulls have completely outpaced the market favored by falling volatility and they may be able to significantly raise the price of LINK, leaving the shorts running for their money.

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