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The Chainlink price forecast may move above the 9 and 21 day moving averages as the coin moves higher.
Chainlink prediction statistics:
- Chainlink price now – $18.68
- Market cap of Chainlink – $10.9 billion
- Circulating supply of Chainlink – 587 million
- Total Chainlink supply – 1 billion
- Chainlink Coinmarketcap Ranking – #20
LINK/USD market
Key Levels:
Resistance levels: $22.0, $23.0, $24.0
Support levels: $14.0, $13.0, $12.0
Looking at the daily chart, LINK/USD continues to trade above the 9 and 21 day moving averages, aiming to break above the channel’s upper boundary. However, the cryptocurrency is now trying to create a higher level towards the upside, and if buyers hold the coin above the moving averages, it could face additional resistance levels.
Chainlink Price Prediction: LINK/USD is trading bullish
Chainlink price may spike above the channel and if the resistance at $18.83 breaks down, the bull run may come into focus. However, the bullish scenario seems to dominate the market as buyers continue to make firm commitments to the market. Nevertheless, traders could see a sharp rise in the market price if the coin crosses the upper limit of the channel as this could further strengthen the market towards the potential resistance levels of $22.0, $23.0 and $24.0.
On the other hand, if the sellers reenter the market, a lower possible swing could likely retest previous support below the 9-day and 21-day moving averages. Meanwhile, traders can expect a further decline towards the support levels of $14.0, $13.0 and $12.0 should the coin slide towards the lower boundary of the channel.
LINK/BTC breaks to the upside
Against Bitcoin, Chainlink price remains above the moving averages to reach the 2700 SAT resistance level. However, this is expected to effectively cross resistance level so that the market price may eventually close above it.
Moreover, if LINK/BTC falls below the 9-day and 21-day moving averages, it could renew the lows below 2500 SAT. A possible bearish continuation could likely meet the major support at 2100 SAT and below. Nevertheless, if the coin crosses the upper limit of the channel, the market price could reach the potential resistance at 3200 SAT and above.
However, @DaanCrypto informed his 372,000 followers on X (formerly Twitter) that $LINK was one of the strongest performers this week. It has moved back above the Daily 200MA and into a high volume area. The critical support level is now in the green horizontal area. If this level is reversed, $LINK could potentially return to the $20 range.
$LINK One of the strongest artists of this week.
Back above the Daily 200MA and the high volume area.
Last defense area here in the green horizontal area. If I reverse that, it should lead back to $20, I would say. pic.twitter.com/PXKCdQVEZ8
— Daan Crypto Trades (@DaanCrypto) May 19, 2024
Alternatives to Chainlink
Chainlink (LINK) is poised for an upward move, aiming to cross the upper limit of its channel with bulls holding positions above the 9-day and 21-day moving averages. Therefore, any further bullish move could push the coin towards the $19.0 resistance level. On that note, Dogeverse (DOGEVERSE) is getting a lot of attention as its $15 million pre-sale nears completion ahead of its listing, leading to speculation that it could be the next big meme token. In contrast, Chainlink, with a market cap of $10.9 billion, may see limited growth due to its size. Investors are encouraged to act quickly to get into Dogeverse early
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Dogeverse – Multichain Meme Coin
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