Chainlink Price Prediction for Today, 24 November: LINK Bounces Up at $5.6 Level

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Chainlink is experiencing a bullish reversal

Chainlink Price Analysis –24 November

When the buyers push up prices above the resistance level of $8.1, LINK may increase to $9.4 and $10.8 resistance levels. In case there is a breakout at the support level of $6.4, the price may reduce toward the support levels of $5.6 and $3.5.

LINK/USD Market

Key Levels:

Resistance levels: $8.1, $9.4, $10.8

Support levels: $6.4, $5.6, $3.5

 

LINK/USD Long-term Trend: Bearish

Chainlink is bearish in the daily time frame. The ranging movement that took place a few weeks ago within $9.4 and $6.4 levels could not continue.in the Chainlink market. The sellers gathered more momentum to break down the support level of $6.4. The lower level of $5.6 was tested on 21 November. The seller lost momentum and could not break down the just-mentioned level. At the moment there is an increase which is a pullback to the coin.

chainlink is currently trading between the two EMAs. The 9-periods EMA is below the 21-period EMA. The technical indicator, Relative Strength Index period 14 is at 49 levels with the signal line pointing upwards which indicates a bullish movement. When the buyers push prices above the resistance level of $8.1, LINK may increase to $9.4 and $10.8 resistance levels.

In case there is a breakout at the support level of $6.4, the price may reduce toward the support levels of $5.6 and $3.5.

 

LINK/USD Medium-term Trend: Bullish

Chainlink is bullish on the 4-hour chart. The support level of $5.6 withstands the pressure of the sellers in the Chainlink market. The price is increasing and breaks up the former resistance level of $6.4, Chainlink is heading towards the $8.1 resistance level.

The Chainlink price is above 9-periods EMA and 21-period EMA. The indicator, Relative Strength Index period 14 confirms that the market is moving up as the signal line point upside at 64 levels. LINK is commencing a bullish movement while Dash 2 Trade and IMPT are already at the top going higher.

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