Chainlink (LINKUSD) Price Forecast: October 5
The Chainlink market price is in the bull direction today. The coin is trending up and this may continue if the coin traders accelerate their buying pressure and close the daily candle above an $8.440 high mark, the accelerated buying pressure may increase the coin price to hit the $9.000 upper resistance level, and a potential buy signal for the interested traders.
Key Levels:
Resistance Levels: $7.000, $7.500, $8.000
Support Levels: $6.500, $6.000, $5.500
LINK (USD) Long-term Trend: Bullish (Daily Chart)
The long-term market value of Chainlink is moving in a bullish direction above the supply levels as can be seen from the chart below. The coin price is trending up and this may continue to the upper channel of the market. This is due to the high impact of the buy investors in the coin market.
The sustained bullish pressure at $8.264 on the 30th of September actually made it possible for the buy investors to retain the upward strength in its recent high.
The coin having dropped down to a low at the $7.353 level during yesterday’s session has been rejected by the bulls at the moment.
Hence the current price of LINKUSD at the $7.740 resistance value above the EMA-50 as the daily chart opens today is as a result of high commitment from buyers.
Thus, it is very likely that the bulls will continue rising as we are seeing a bullish correction in place at the present.
Also, the market is currently trending upward as shown by the daily stochastic. This indicates that the market value of the Chainlink will continue trending up. In light of this, it is anticipated that the bulls will swing the coin price upward and may eventually hit the $9.000 supply value in the next days in its higher time frame.
LINK (USD) Medium-term Trend: Bearish (4H Chart)
According to the chart below, the medium-term outlook for the Chainlink market is in a bearish trend zone. It also indicates the impending next significant price shift. The crypto has just resumed its upward trend and this may continue.
The bulls made a pullback to the $7.727 high mark below the EMA-9 as the 4-hour session opens today. This suggests that the buy traders are returning to stage a play in the market.
Thus, it is very likely that the bulls will continue rising as we are seeing a bullish correction in place at the present.
Currently, the price signal is pointing upwards indicating a bullish move and in this case, the price of LINKUSD could continue trending up to hit the $9.000 supply mark soon in its medium-term outlook.
Buy Chainlink on eToro
Leave a Reply