The price of LINK is our Previous Chainlink price forecast. The price was rejected by the downside resistance because there was no buying pressure. As a result, Top Oracle’s native assets are trading at $ 6.10 and are on the verge of retesting support for $ 5.30 to $ 6.0. The area has bounced back many times and is important to Chainlink’s pricing.
During the trading session on Tuesday, the LINK cipher has slid 3% so far. Most altcoins are retesting their local support as Bitcoin’s price fell below $ 20,000 after failing to recover key psychological levels. Many analysts are afraid that the worst of altcoin prices hasn’t come yet. However, many market indicators have already been over-expanded, indicating that they may have at least short-term bottoms.
Chainlink price forecasts remain bearish until they break out of the declining wedge and hit highs. According to official Chainlink news, the project has reached key milestones of 3 billion data points, over 185 million on-chain calls and 7 million random requests. These prove that LINK is by far the largest Oracle network.
Chainlink price forecast
A technical analysis of the chainlink price chart shows that prices have been trading within the down wedge since the refusal from $ 38. If the bounce from support from $ 5.30 to $ 6.30 is successful, the price of LINK coin may try another retest. If the breakout is successful, the price can spike to $ 10.3 almost immediately.
It’s also worth mentioning that Chainlink’s pricing depends on Bitcoin’s pricing actions. If Bitcoin’s price cannot regain $ 20,000 this week, LINK could hit a new low. Therefore, it may be a good idea to maintain a long position stop loss of less than $ 5.30. The price will only gain power in the case of a BTC price relief rally.If you are looking to buy Chainlink, it is available at Binance..