Chainlink Price Prediction for Today, January 17 – LINK Technical Analysis

Updated: 17 January 2024

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The Chainlink price prediction is recovering from the daily opening price at the $14.3 level as the price heads to the upside.

Chainlink Prediction Statistics Data:

Chainlink price now – $15.02
Chainlink market cap – $8.6 billion
Chainlink circulating supply – 568 million
Chainlink total supply – 1 billion
Chainlink Coinmarketcap ranking – #13

LINK/USD Market

Key Levels:

Resistance levels: $20, $22, $24

Support levels: $10, $8, $6

Chainlink Price Prediction for Today, January 17 – LINK Technical Analysis — LINKUSD – Daily Chart

LINK/USD is trading around the 9-day and 21-day moving averages as the coin touches the daily high at the $15.4 resistance level. At the time of writing, Chainlink is changing hands at $15.02, having gained over 4.60% since the beginning of the European session. However, with the latest recovery, the digital asset is likely to head toward the upper boundary of the channel to increase the bullish movement.

Chainlink Price Prediction: Chainlink (LINK) Breaks Above $15

The Chainlink price could stay above the 9-day and 21-day moving averages at the price level of $15. However, if the bulls maintain the upward trend, LINK/USD may touch the resistance levels of $20, $22, and $24 to keep the price on the upside. In other words, any strong selling pressure below the 9-day moving average may drag the price toward the lower boundary of the channel.

However, in case Chainlink trades below the lower boundary of the channel, a bearish continuation could bring the price to the supports of $10, $8, and $6. Meanwhile, the 9-day moving average remains below the 21-day moving average, indicating a bearish movement.

LINK/BTC Faces the North

Against Bitcoin, the Chainlink price is heading to the north as the coin moves above the 9-day and 21-day moving averages. However, following the recent positive sign, the current market movement may continue to follow upward movement if the buyers push the price above the upper boundary of the channel.

Moreover, as the 9-day moves to cross above the 21-day MA, the market price could hit the resistance level of 4300 SAT and above. Meanwhile, a retest below the moving averages could lower the price to the support level of 2700 SAT and below.

Chainlink to Alternatives

A potential surge in the price of Chainlink is anticipated to surpass the 21-day moving average. However, if the $16.0 resistance level is breached, it could signal a shift in focus towards a bullish trend, potentially leading to the formation of additional upward momentum. Meanwhile, the analysis of the daily chart suggests a bullish scenario emerging, supported by committed buying activity in the market. Traders might observe a notable upward movement toward the upper boundary of the channel in the near term.

Nevertheless, Bitcoin Minetrix (BTCMTX) is gaining attention as an innovative token compared to Chainlink (LINK). While LINK has an $8.6 million market cap, ranking 13th in the crypto world. BTCMTX introduces a decentralized cloud mining platform, allowing investors to earn passive BTC rewards through token staking. However, the successful $8.6 million presale indicates strong demand for BTCMTX, emphasizing its unique features and potential impact on the cryptocurrency landscape.

New Crypto Mining Platform - Bitcoin Minetrix

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