LINK’s Strong Uptrend Remains, The Coin Could Test The $25 Level

LINK’s strong uptrend remains set to test the $25 price range, as the coin rallied and broke past two main levels while BTC and ETH remained in a range. The price is still correcting the gains but dips could be limited to $21.50 so let’s read more about it in our Chainlink latest news.

Chainlink’s token price is gaining more power and broke the key $20.00  level against the US dollar so the price will correct lower than the $23.76 level and it is trading well above the 100 simple moving average. There’s a key bullish trend line that is forming with support at $21.55 on the 4-hour charts of the pair which could resume the upwards move from $22.50 to $23.00 levels in the near-term.

Over the past few days, there was a strong increase in LINK as it outperformed both Bitcoin and Ethereum. Its price broke many hurdles near the $18.00 level and the $20.00 level to start a recent surge. The upwards movement gained some pace above the $20.00 level and there was also a close above the 100 simple moving average after it rallied above $22 and traded to a new yearly high of $23.76. The price started a downside correction below the $23.00 level and managed to break the 23.6% fib retracement from the rally at $19.41 swing low to the $23.76 high. The price managed to find strong support of $21.50 with a key bullish trend line forming at the $21.55 support on the 4-hour charts of the pair.

The trend line is close to the 50% fib retracement level of the recent rally at $19.41 swing low to the $23.76 high. A downside break could spark a bigger drop below the $21.00 level with the next major support setting at the $20.00 level. If chainlink’s price stays above the $21.50 level it could start a fresh surge with resistance on the upside forming near the $23.00 level.  breaking above these levels could open the doors for more upsides above $23.50 zone so in the stated case, the price will likely surge above the $25.00 level as LINK’s strong uptrend remains. The 4-hour MACD for the pair is losing momentum in the bullish zone while the 4-hour RSI is well above the 60 level.

As earlier noted, Chainlink launched a Chinese website as well which could be driving some of the momentum in Asia right now. LINK is not the only crypto asset that makes huge moves at the moment. Binance Coin made 9% increase and settle slightly under $47 a few hours ago.