Chainlink Price Prediction for Today, May 27 – LINK Technical Analysis

Chainlink price prediction could stabilize above the 9-day and 21-day moving averages as the coin heads to the upside.

Chainlink prediction statistical data:

• Current Chainlink price – $18.68
• Chainlink market cap – $10.9 billion
• Chainlink Circulating Supply – 587 million
• Chainlink Total Supply – 1 billion
• Chainlink Coinmarketcap Ranking – 20th

LINK/USD Market

Main level:

Resistance levels: $22.0, $23.0, $24.0

Support levels: $14.0, $13.0, $12.0

Looking at the daily chart, LINK/USD continues to trade above the 9-day and 21-day moving averages in an attempt to break the upper boundary of the channel. However, the cryptocurrency is now trying to establish a higher base towards the upside and could pick up additional resistance levels if buyers hold the coin above its moving average.

Chainlink Price Prediction: LINK/USD Trades Bullish

Chainlink price could surge above the channel and the bulls could come into focus if the resistance at $18.83 is broken. However, a bullish scenario appears to be prevailing in the market as buyers continue to post firm commitments in the market. Nonetheless, traders can see the market price rise sharply if the coin crosses the upper limit of the channel. This is because it could push the market further towards potential resistance levels of $22.0, $23.0, and $24.0.

The downside is that if sellers re-enter the market, a swing is less likely and a retest of previous support below the 9- and 21-day moving averages is more likely. Meanwhile, traders can expect further declines towards the support levels of $14.0, $13.0, and $12.0 if the coin slides towards the lower boundary of the channel.

LINK/BTC breaks through upward trend

Compared to Bitcoin, Chainlink price stayed above its moving average and reached the resistance level of 2700 SAT. However, this resistance level has actually been exceeded and the market price is expected to close above it.

Additionally, if LINK/BTC falls below the 9-day and 21-day moving averages, a refresh low below 2500 SAT may occur. The bearish continuation is likely to meet key support below SAT 2100. Nonetheless, if the coin crosses the upper boundary of the channel, the market price may encounter potential resistance above 3200 SAT.

However, @DaanCrypto informed his 372,000 followers on X (formerly Twitter) that $LINK was one of the strongest performers of the week. It has surged again above the Daily 200MA and bulk area. Now the important level of support lies in the green horizontal zone. If this level reverses, $LINK could potentially return to the $20 range.

$LINK One of the strongest performers this week.

It has crossed the daily 200MA and high volume areas.

Here is the final defense area in the green horizontal area. If you flip it over after I tell you, it will go back to $20. pic.twitter.com/PXKCdQVEZ8

— Daan Cryptocurrency Trading (@DaanCrypto) May 19, 2024

Alternatives to Chainlink

Chainlink (LINK) is on the rise and aiming to break above the channel upper limit, with bulls holding positions above the 9-day and 21-day moving averages. Therefore, any further bullish move could push the coin towards the resistance level of $19.0. In that regard, Dogeverse (DOGEVERSE) is receiving a lot of attention, with a $15 million pre-sale almost completed prior to listing on exchanges, leading to speculation that it could be the next major meme token. In contrast, Chainlink, which has a market capitalization of $10.9 billion, may have limited growth due to its size. Investors are encouraged to act quickly to participate in Dogeverse early.

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