LINK Price Bulls Are Fighting The Resistance At $3.80: Analysis

LINK price bulls are fighting the resistance that was present at the $3.80 level and Chainlink showed a huge positive momentum today with a 1.50% growth as we are reading further in the chainlink news.

The crypto asset also reclaimed the crucial mark of $3.70 which indicates a bullish movement in the short-term. On the 7-day weekly chart, Chainlink started trading within a safe zone of $3.50 and the overall bearish movement in the market led the price into a consolidation scenario for the crypto asset. LINK’s price gradually gained momentum to the price level of $3.00 and the price level is now back again to a safe spot of $3.70. From here, the LINK price bulls can sustain the price point of $3.50 and build on the momentum to the .
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00 level. The price is facing a major resistance at $3.80 in the process when the price is growing.

Chainlink is now having another strong support level at $3.50 so any price fall below this point will result again in a major downfall for the altcoin. The technical graphs for LINK show the heavy positive momentum that Chainlink was facing which forced the giant leal from $2.00 to $3.70 level. The MACD levels have to sustain the bullish zone which is quite positive sign for the price of LINK. The price levels suggest that there can be a condition of a bearish cross in the bullish region.

The 24-Hr RSI shows a downtrend in nature with the 55 levels. Any further downfall below the level of 50 will welcome the bears into play again. The 24-Hr CCI had a negative divergence from the overbought region and it is able to sustain within the normal zone. However, because of the profit booking momentum, the current situation for the asset in the market means that it could reach the oversold region.

In the recent cryptocurrency news, Chainlink’s volume recovered overnight as did the price by 4% after the 3-day drop from $3.8 to $3.3. The recovery means that Link will go on a fresh increase to $4. The value is currently hovering around $3.61 against the USD and Chainlink looks quite bullish. However, the analysts warn that LINK could drop to $3 if the orange trend line fails to hold the support. As it can be seen on the charts, LINK  started a bullish trend after the crash to $1.3.