LINK Price Triggered a Pullback; Can Buyers Break the $20 Hurdle?

• The trading volume has surged by 76% in the past 24 hours.
• Chainlink price is up by 32% in the past 10 days.

LINK price has been bullish for the past few days and has recovered from the demand zone. After a multi-month high, the Chainlink price witnessed seeking pressure, and the price melted to the $13 hurdle. 

LINK’s price formed a triple bottom pattern in the demand zone, and strong buying pressure was detected. The LINK price faced resistance from the $17 mark and declined slightly, but buyers were strong enough and managed to trigger a pullback.

When writing, the Chainlink price traded at $17.21 with an intraday gain of 3.74%. The market capitalization is $10.12 Billion and according.

Buyers Looking Active In Chainlink; What Next?

The Chainlink crypto (LINK) price was back in the bullish region and had displayed bullish waves for the past few sessions. 

Moreover, the LINk is trying to sustain its gains above the key moving averages and persistently stretching them. The crypto just broke the key moving averages of 50-day and 200-day on the upper side, showing bullishness.

The Chainlink crypto price has started a major bullish move from the lower support levels. The price broke above the major trendline, resulting in an upsurge of the price to the upper resistance. 

The price formed multiple higher-high swings and continued its bullish rally to date. It reflects the stability and trust of the Chainlink community in this project.

Chainlink Crypto Price vs Volume Analysis

Link price and volume bounced back from the bottom, showcasing the bullishness of the trend.

The volume and price graph show that the trading volume has increased in the last few days, and the price has also risen. Over the last few days, the price has increased significantly. Therefore, the price is expected to continue to rise in the long term.

Chainlink Crypto Social Dominance vs Social Volume

Based on the social dominance and social volume graph, it’s evident that both have been mildly decreased over the past few weeks. 

Additionally, the momentum of the Chainlink price may be influenced by changes in social dominance and volume dominance.

Summary

The long-term Chainlink price prediction is bullish as long as it stays above key dynamic supports. The recent bullish momentum has boosted investor confidence. Technical analysis indicates that the LINK price is reversing upward, and the bullish momentum may continue in the coming months.

Technical Levels

Chainlink price may face resistance from the $18 and $21 mark in the upcoming trading session. Alternatively, the price is expected to take support on the $16.40 and $13 levels.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.