This website uses cookies to ensure you get the best experience on our website

Technical Analysis for LNKUSD for 10th June 2022

Chainlink Rallies 53%, LINK Bulls Target $12.5 in a Retest

Past Performance of LINK

Chainlink prices are motoring higher at spot rates, and LINK is one of the top performers in the past 24 hours. The coin is within a bear breakout formation above the middle BB, completing a double bottom formation. LINK is up eight percent versus the USDT in the past trading day.

Chainlink Technical Analysis

After dropping 65 percent to print 2022 lows from April 2022 peaks, Chainlink prices are bottoming up. The consolidation of the second half of May 2022 was an accumulation following impressive gains in early June. With prices trending above $8.8, the middle BB, and May 11 highs, buyers are in control. Besides, LINK bars are banding along the upper BB, pointing to bullish momentum. From the candlestick arrangement in the daily chart, LINK buyers may load on every correction above $8.8 with targets at $12.5—Q1 2022 lows.

What to Expect from LINK

LINK prices are breaking out, adding 53 percent from 2022 lows. With a defined trend, buyers are solid and could push LINK to retest $12.5 in the medium term.

Resistance level to watch: $12.5

Support level to watch: $8.8

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020