LINK Trades Near $8 Resistance, Massive Gains on TAMA

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The Chainlink price prediction may shoot to the upside as the bulls prepare to take the coin to higher levels.

Chainlink Prediction Statistics Data:

  • Chainlink price now – $7.1
  • Chainlink market cap – $3.5 billion
  • Chainlink circulating supply – 491.5 million
  • Chainlink total supply – 1 billion
  • Chainlink Coinmarketcap ranking – #23


Key Levels:

Resistance levels: $9.5, $10.0, $10.5

Support levels: $5.0, $4.5, $4.0

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LINK/USD is trading above $7 as the coin trades above the 9-day and 21-day moving averages to touch the resistance level of $7.3 during the European session today. The Chainlink may continue to move upwards if the price stays above the 9-day and 21-day moving averages. Meanwhile, LINK/USD may reach the resistance level of $8 if the bulls focus on the upward trend.

LINK Gets Ready for a Spike as Buyers Prefer TAMA

The Chainlink price may remain on the positive side if the 9-day moving average crosses above the 21-day moving average. However, the technical indicator Relative Strength Index (14) also confirms the bullish movement as the signal line crosses above the 50-level. Therefore, there is a higher chance that the coin may find the potential resistance levels at $9.5, $10.0, and $10.5 if it heads to the upside.

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On the other hand, if the Chainlink price slides below the lower boundary of the channel, any bearish movement below this barrier may cause the coin to reach the nearest support at $6.5 before locating the critical supports at $5.0, $4.5, and $4.0 respectively.

Against Bitcoin, the Chainlink is heading to the upside as the coin hovers above the 9-day and 21-day moving averages. However, if the bullish movement continues, the next level of resistance may surface above the upper boundary of the channel. Whereas, this may cause LINK/BTC to locate the key resistance at 4200 SAT and above.

LINKBTC 07092022
LINKBTC – Daily Chart

Meanwhile, on the downside, the market price could face support at 3500 SAT. Beneath this, the critical support level could be located at 3200 SAT and below. At the moment, the 9-day MA remains above the 21-day MA as the technical indicator Relative Strength Index (14) moves to cross into the overbought region to increase the bullish movement. If the signal retreats below the 60-level, traders are likely to expect bearish pressure below the channel.

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