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Chainlink Coin Price Analysis: Bulls Push for a Breakout at Resistance Level of $4.41

Analytics

www.cryptovibes.com 04 March 2020 06:10, UTC
  
Reading time: ~2 m

LINK Price Analysis – March 03

The price of Chainlink coin may continue to follow the uptrend if the price crosses the resistance level of $4.41 and this may expose the cryptocurrency to the resistance level of $4.94.

LINK/USD Market

Key Levels:

Resistance levels: $4.41, $4.94, $6.0
Support levels: $3.31, $2.49, $1.66

LINK/USD price is currently trading close to the resistance level of $4.41 after the pullback that touches the support level of $3.31.The price of Chainlink coin may continue to follow the uptrend if the price crosses the resistance level of $4.41 and this may expose the cryptocurrency to the resistance level of $4.94. Chainlink coin may eventually close the week on a better note as the price could touch the resistance level of $4.94. The current performance of LINK/USD is progressive and may attract more investors.

LINK/USD has maintained an uptrend from the lows traded last two months. That means as the technical indicator Stoch RSI (14) moves towards 50 levels, once it breaks the level, there is a higher chance that LINK may likely find resistance at $4.41, $4.94 and $6.0 but the downside may remain at $3.31 and $2.49 and $1.66 respectively.

LINK/BTC Market

When compared with BTC, after a short pullback, the LINK price has been moving up higher as it is currently moving above the 9 and 21 periods EMA and within a major resistance area at 0.00049 BTC. The cryptocurrency is breaking up the barrier at $0.00049.

From above, if the buyers can push the price above 0.00049 BTC, higher resistance lies at 0.00061 BTC and 0.00069 BTC. More so, should the bulls fail to move it above the aforementioned levels, then, the nearest level of support toward the downside lies at 0.00031 BTC and 0.00023 BTC as the Stoch RSI (14) faces the 50 levels, which shows that more bullish signals may play out.

Please note: Cryptovibes.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.


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