Chainlink Price Prediction for Today, February 3 – LINK Technical Analysis

The Chainlink price prediction shows that LINK is currently changing hands at $16.6 as the market price swings to the upside.

LINK Reaches Two-Year Peak

On Friday, the price of Chainlink (LINK) surged by over 17%, hitting its peak since January 2021. Significant movements of long-held coins partly drove this notable increase. Momentum indicators indicate a robust upward trend for Chainlink, which could persist with sustained positive sentiment.

Chainlink Prediction Statistics Data:

• Chainlink price now – $16.6
• Chainlink market cap – $10.3 billion
• Chainlink circulating supply – 584 million
• Chainlink total supply – 1 billion
• Chainlink Coinmarketcap ranking – #11

LINK/USD Market

Key Levels:

Resistance levels: $19.0, $20.0, $21.0

Support levels: $13.0, $12.0, $11.0

LINK/USD is keeping the upward movement as its price moves toward the upper boundary of the channel with a gain of over 7.77%. At the time of writing, the Chainlink (LINK) bulls remain above the 9-day and 21-day moving averages and capped to the upside at $16.6.

Chainlink Price Prediction: Chainlink (LINK) Could Spike More

The Chainlink (LINK) price keeps hovering above the 9-day and 21-day moving averages, but the bullish rally failed to materialize above the $16.9 level. Meanwhile, a break above the channel may provoke a bull run to hit the resistance levels of $19.0, $20.0, and $21.0 respectively.

The daily chart reveals that LINK/USD may tend to move higher as the 9-day moving average moves to cross above the 21-day moving average. On the contrary, if the buyers failed to keep the coin on the upside, it could slide toward the lower boundary of the channel to reach the support levels of $13.0, $12.0, and $11.0.

LINK/BTC Surges Bullishly

Against Bitcoin, the Chainlink price is likely to cross above the upper boundary of the channel in other to reach the nearest resistance at 4000 SAT. Unless this coin crosses above the channel and the price ends up closing above it, there might not be any reason to expect a bullish continuation.

Nonetheless, any bearish movement below the nearest support level of $3607 could refresh lows below the 9-day and 21-day moving averages, and a possible bearish continuation may likely meet the major support at 3100 and below. Whereas, if the bulls increase the pressure, LINK/BTC may cross above the channel to hit the resistance at 4500 SAT and above. Meanwhile, the 9-day MA is likely to cross above the 21-day to increase the bullish movement.

Based on insights from @Neuro__Invest, utilizing data from @santimentfeed on X (formerly Twitter), indicates a growing sentiment as the price of $LINK approaches key areas with substantial token holdings. This suggests a potential price target to surpass soon.

$link sentiment continue to grow as price moves into key area where a substantial number of $LINK tokens are held across addresses, indicating a potential target for the price to reach or surpass​
👀

Data by @santimentfeed pic.twitter.com/jOyfPdYJ42

— NeuroInvest Research (@Neuro__Invest) February 2, 2024

Alternatives to Chainlink

The Chainlink price maintains stability above its 9-day and 21-day moving averages, aiming to break the $16.9 resistance for potential upward movement. However, despite the Chainlink $10.3 billion market cap, concerns about scalability arise. Meanwhile, investors are turning to Bitcoin Minetrix (BTCMTX), an alternative Bitcoin, with almost $10.2 million in the presale phase, enticing traders to explore new investment options.

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