#Chainlink tearing higher, LINK up 15% in 4 Weeks
Past Performance of Chainlink
Chainlink prices are breaking higher as of April 17. Technically, the token is within a bullish breakout formation, and prices are buoyed by expanding volumes. Notice that the confirmation of the April 14 bullish breakout bar was enough evidence of strength, a net positive for optimistic traders.
#Chainlink Technical Analysis
The daily chart shows LINK prices are firm, breaking higher with expanding volumes. For now, the April 14 bar anchors the current Bull Run. Support is at the bar's high at $7.6, which also flashes with March 2023 highs. Since the current bull bars are with rising volumes and banding along the upper BB, suggesting strong bullish pressure, traders can load the dips, targeting $8.4, an important reaction line; and later August 2022 highs of $9.3.
What to Expect from #LINK?
LINK prices are up roughly 15% from April lows, and buyers are confident of what lies ahead. As price action aligns with the formation from mid-March, currently breaking out, bulls appear to be in control. For this reason, traders can look for entries provided prices are above $7.6.
Resistance level to watch out for: $8.4
Support level to watch out for: $7.6
Disclaimer: Opinions expressed are not investment advice. Do your research.
Chainlink prices are breaking higher as of April 17. Technically, the token is within a bullish breakout formation, and prices are buoyed by expanding volumes. Notice that the confirmation of the April 14 bullish breakout bar was enough evidence of strength, a net positive for optimistic traders.
#Chainlink Technical Analysis
The daily chart shows LINK prices are firm, breaking higher with expanding volumes. For now, the April 14 bar anchors the current Bull Run. Support is at the bar's high at $7.6, which also flashes with March 2023 highs. Since the current bull bars are with rising volumes and banding along the upper BB, suggesting strong bullish pressure, traders can load the dips, targeting $8.4, an important reaction line; and later August 2022 highs of $9.3.
What to Expect from #LINK?
LINK prices are up roughly 15% from April lows, and buyers are confident of what lies ahead. As price action aligns with the formation from mid-March, currently breaking out, bulls appear to be in control. For this reason, traders can look for entries provided prices are above $7.6.
Resistance level to watch out for: $8.4
Support level to watch out for: $7.6
Disclaimer: Opinions expressed are not investment advice. Do your research.
