{"id":194004,"date":"2023-09-22T05:39:38","date_gmt":"2023-09-22T05:39:38","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194004"},"modified":"2023-09-22T05:39:38","modified_gmt":"2023-09-22T05:39:38","slug":"link-price-prediction-chainlink-recovery-stalls-but-not-likely-over","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/link-price-prediction-chainlink-recovery-stalls-but-not-likely-over\/","title":{"rendered":"LINK Price Prediction: Chainlink Recovery Stalls But Not Likely Over"},"content":{"rendered":"<p><em>Chainlink\u2019s LINK price recovered above the $6.50 resistance. The price is now correcting gains, but it might find bids near $6.40 and could start a fresh increase.<\/em><\/p>\n<ul>\n<li>Chainlink price is showing positive signs above $6.5 against the US dollar.<\/li>\n<li>The price is trading above the $6.50 level and the 100 simple moving average (4 hours).<\/li>\n<li>There is a connecting bullish trend line forming with support near $6.40 on the 4-hour chart of the LINK\/USD pair (data source from Kraken).<\/li>\n<li>The price could restart its increase unless there is a close below the $6.40 support.<\/li>\n<\/ul>\n<h2>Chainlink (LINK) Price Turns Green<\/h2>\n<p>After a steady decline, LINK price found support near the $5.75 zone against the US Dollar. A low was formed near $5.74 and the price recently started a fresh increase, like Bitcoin and Ethereum.<\/p>\n<p>The price recovered above the $6.00 and $6.20 resistance levels. The bulls were able to pump the price above the $6.50 level and the 100 simple moving average (4 hours). Finally, the bears appeared near the $7.00 zone. A high is formed near $7.03 and the price is now correcting gains.<\/p>\n<p>It traded below the 23.6% Fib retracement level of the upward move from the $5.74 swing low to the $7.03 high. LINK is still trading above the $6.50 level and the 100 simple moving average (4 hours). There is also a connecting bullish trend line forming with support near $6.40 on the 4-hour chart of the LINK\/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $5.74 swing low to the $7.03 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/LINK-Price-Chainlink.png?resize=1024%2C468\"><\/p>\n<p>Source: LINKUSD on TradingView.com<\/p>\n<p>If there is a fresh increase, the price might face resistance near $6.80. The first major resistance is near the $7.00 zone. A clear break above $7.00 may possibly start a steady increase toward the $7.25 and $7.32 levels. The next major resistance is near the $7.50 level, above which the price could revisit $7.85.<\/p>\n<h2>More Losses?<\/h2>\n<p>If Chainlink\u2019s price fails to climb above the $6.80 resistance level, there could be a downside extension. Initial support on the downside is near the $6.50 level.<\/p>\n<p>The next major support is near the $6.40 level, below which the price might test the $5.90 level. Any more losses could lead LINK toward the $5.75 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for LINK\/USD is losing momentum in the bullish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for LINK\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $6.50 and $6.40.<\/p>\n<p>Major Resistance Levels \u2013 $6.80 and $7.00.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/link\/link-price-prediction-chainlink-7-20\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink\u2019s LINK price recovered above the $6.50 resistance. The price is now correcting gains, but&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194003,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LINK Price Prediction: Chainlink Recovery Stalls But Not Likely Over - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/link-price-prediction-chainlink-recovery-stalls-but-not-likely-over\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LINK Price Prediction: Chainlink Recovery Stalls But Not Likely Over - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Chainlink\u2019s LINK price recovered above the $6.50 resistance. 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