The latest Chainlink price analysis shows a bullish trend as an upward price movement has been recorded in the last 24 hours. The market has been following a bullish trend for the past few days, and the price has significantly improved. A similar trend was observed today as well, as the bullish momentum has gained strength, and after retaking hold of the market, it has taken the LINK/USD value up to $7.57.
LINK/USD 1-day price chart: cryptocurrency gains 9.67 percent more as bulls continue uptrend
The one-day Chainlink price analysis confirms an upward trend for the crypto pair, as the bulls have been leading the price chart even today. The past week has proved to be quite favorable for the buyers. Today’s trend has yet again proved to be on the supportive side, as the price has increased up to the $7.57 level gaining 9.67 percent value during the last 24 hours. Meanwhile, the moving average (MA) value has been trading at $6.61 as well.
The increasing volatility is indicative of future trends, and it can be predicted that more uptrends may be observed in the future. The Bollinger Bands’ upper value has moved up to $7.24 as the price is trading above it, while its lower value is $5.63 representing the strongest support. The Relative Strength Index (RSI) score moved up to index 63 because of the continuous buying trend observed during the past three days, and it continues to move towards the overbought region.
Chainlink price analysis: Recent developments and further technical indications
The 4-hour price chart for Chainlink price analysis shows the price has undergone a recovery today, but a correction was also observed at the end of the previous trading session; however, the correction was small and did not seep into today’s price action. The buying momentum intensified today, and the buyers are now dominating the market as the price is moving upwards. The price has increased to $7.60, which is still at a higher point than its moving average, settling at the $7.15 mark.
If we discuss the Bollinger bands values, its upper value is at $7.57, and its lower value is at $6.17. The price has jumped above the Bollinger bands limits as bullish momentum is quite aggressive. The RSI curve shows an upward movement, and the score has been increased to index 72 in the overbought region on the 4-hour chart.
Chainlink price analysis conclusion
The 1-day and 4-hours Chainlink price analysis shows that the price has significantly improved today. The price has increased up to $7.60 after undergoing a constant upgradation for the past three days. We expect the coin to continue further upside today as the bullish momentum seems healthy.
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