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Dalmas Ngetich
Jun 10, 2022
by Dalmas Ngetich

Chainlink Technical Analysis: LINK Rallying as Prices May Add 35% to $12.5

Chainlink Technical Analysis

Table of contents

  1. Past Performance of Chainlink
  2. Chainlink Technical Analysis
  3. What to Expect from LINK?
Chainlink is up a decent nine percent versus the USDT. LINK prices are in a bullish breakout pattern as buyers target $12.5 in a possible retest.

Past Performance of Chainlink

In a tepid crypto market, Chainlink is one of the top performers on the last trading day. The LINK crypto is up nine percent versus the USDT, further posting gains against BTC and ETH. From the LINK technical analysis in the daily chart, the upside momentum is building up. Also, the coin bars are banding along the upper BB, pointing to solid upsides.

Chainlink Technical Analysis

Chainlink LINK Daily Chart for June 9

Chainlink token prices appear to be bottoming up and in a bullish breakout pattern. Bulls have reversed the losses of May 11, an indication of strength from an effort versus results perspective. Furthermore, prices are firm above the middle BB. From the LINK coin candlestick arrangement, the immediate support is around $8.8. Bulls may find entries above this mark while targeting March 2022 lows of about $12.5.

What to Expect from LINK?

The upside momentum is building up, per the daily chart's performance. Prices are trending higher, banding along the upper BB. At this pace, Chainlink crypto prices may retest $12.50, flashing with March 2022 lows.

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Chainlink Technical Analysis: LINK Rallying as Prices May Add 35% to $12.5
Dalmas Ngetich
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.

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