The Chainlink (LINK) token’s LINK price is currently holding the $7.30 support area and is expected to rise after a successful breakout of the $7.50 resistance. Currently, the price is showing favorable indicators on the USD pair LINK marker, surpassing the $7.30 level.
It is trading at the $7.40 level and remains above the 100 simple moving average on the 4-hour chart. Notably, the 4-hour chart of the LINK trading pair from Kraken shows the development of a significant descending channel, indicating the presence of a resistance area around $7.50. If the price breaks above this barrier, it is likely to gather positive momentum and enter a bullish phase above the $7.50 resistance threshold.
Chainlink (LINK) Price Sighting New Upside
After a significant surge in price, LINK’s price encountered selling pressure around $7.90 against the US dollar. This led to a peak at $7.91, followed by a corrective decline. Interestingly, this correction was different from the trend of Bitcoin and Ethereum.
The downward trajectory led the price to break above the $7.60 and $7.50 thresholds. Moreover, the price also declined above the 50% Fibonacci retracement level of the upward movement that stretched from the $6.932 low to $7.915 high. Notably, the price briefly dipped below the $7.40 level. Nevertheless, market participants showed positive sentiment and support around $7.30, which suggests that bullish sentiment remains evident.
LINK remained above the 61.8% Fibonacci retracement threshold for the upward movement from the $6.932 swing low to $7.915 high. Moreover, it remained above $7.40 and the 100 simple moving average (4-hours).
Source: TradingView
It is currently difficult to break above the $7.50 level. If we look at a chart showing the four-hour performance of LINK against the US dollar, we can see a pattern where it is facing challenges around the $7.50 level.
The first big hurdle that it needs to cross is around $7,685. If it manages to surpass this point, there are chances that it will start moving upwards again, possibly reaching $7.90 or even $8.00. If it can further break the $8.20 barrier, the price could head back towards $8.50.
More losses?
If the price of Chainlink struggles and fails to break the $7.50 barrier, the price is likely to decline. Initially, support around $7.30 is likely to fight against this downward momentum.
Looking further, an important support level has emerged near $7.15. If the price breaks below this, there are chances of a test near $7.00. If losses continue, the $6.85 level could be reached in the near term.
Technical indicators:
The MACD on the 4-hour chart of LINK/USD is slowing down in the bearish zone.
The RSI on the 4-hour chart of LINK/USD is approaching 50
Important support levels are at $7.30 and $7.15
The key resistance levels are at $7.50 and $7.685
The Chainlink (LINK) coin’s LINK price is currently holding the $7.30 support area and is expected to rise after a successful breakout of the $7.50 resistance. The price is showing favorable indicators on the USD pair LINK marker.
Moreover, it is trading at the $7.40 level and remains above the 100 simple moving average on the 4-hour chart of the LINK/USD trading pair from Kraken. Notably, the 4-hour chart of the LINK/USD trading pair from Kraken shows the development of a significant descending channel, which indicates the presence of a resistance area around $7.50. If the price breaks above this barrier, it is likely to gather positive momentum and enter a bullish phase above the $7.50 resistance threshold.
Alternatives to Chainlink (LINK)
XRP20 is a promising project that builds on Ripple's foundation and aims to enhance its achievements and introduce innovative features and annual rewards. XRP20 is unique in that it offers the opportunity to generate income through token staking and a novel token destruction mechanism.
The project, which only offered 40% out of 100 billion tokens in the initial sale, is committed to transparency and risk mitigation. As XRP20 develops, it has the potential to revolutionize the cryptocurrency space.
The current sale has quickly acquired more than 20 billion tokens, reflecting the widespread interest in the project. Experienced experts predict that the value of XRP20 may increase 20 times or more, providing investors with an attractive investment opportunity.
This could be the moment for you to get XRP20 at a more affordable price and pave the way for future profits. To learn more about this opportunity, do not hesitate to browse the official website for more details.
XRP20 launches a token and DEX with game-changing features for easy trading
XRP20 has just launched an exciting development in terms of improving the ease of trading. They have boldly allocated a massive reserve of 10 billion tokens to launch a groundbreaking decentralized exchange (DEX), demonstrating their commitment to changing the trading landscape.
In the light of the widespread attention XRP has received in recent media reports, the XRP20 development team has taken proactive steps to envision a token with unique characteristics and inherent utility. This effort demonstrates autonomy and is distinct from any association with Ripple, XRP, or other ecosystem components.
An important difference between XRP20 and its predecessor is that it deliberately avoids being classified as a security, a distinction that was inconsistent in its earlier versions. This commitment to regulatory compliance and clarity demonstrates a bold step toward ensuring the stability and longevity of the token in the ever-changing cryptocurrency landscape.
XRP20's strategic move aims to enhance the seamless buying and selling experience in the cryptocurrency market. By prioritizing user security and satisfaction, XRP20 is determined to elevate the trading space, a commitment that resonates with enthusiasts in the cryptocurrency space.
XRP20 has had a strong start in its presale, successfully raising approximately $2.835 million, close to its ambitious goal of $3.68 million. Investors can purchase one XRP20 token at an attractively low price of $0.000092. This fundraising progress is impressive and shows growing confidence in the project's potential, making it an attractive opportunity for early adopters and cryptocurrency enthusiasts to participate in its growth.
Related:
How to Buy XRP20 Tokens - XRP20 Token Presale Review
Optimism Price Prediction: Amazing Rise in OPT Tokens – Don’t Ignore XRP20
PlayDoge (PLAY) - The latest ICO on the BNB chain
Rating
2D virtual dog coin pet
Play and earn money fusion
Staking and Game Token Rewards
SolidProof Audit - playdoge.io
Participate in the pre-sale
Join our Telegram channel to get the latest news
English 
Chinese (China) 
Chinese (Hong Kong) 