Chainlink Price Prediction for Today, October 6

Chainlink Price Prediction for Today, October 6 – LINK Technical Analysis

Updated: 06 October 2023

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The Chainlink price prediction shows that LINK is recovering from the daily opening price at the $7.40 level as the price heads to the upside.

Chainlink Prediction Statistics Data:

Chainlink price now – $7.64
Chainlink market cap – $4.2 billion
Chainlink circulating supply – 556.8 million
Chainlink total supply – 1 billion
Chainlink Coinmarketcap ranking – #19

LINK/USD Market

Key Levels:

Resistance levels: $9.00, $9.20, $9.40

Support levels: $6.20, $6.00, $5.80

Chainlink Price Prediction for Today, October 6 – LINK Technical Analysis — LINKUSD – Daily Chart

LINK/USD is trading within the 9-day and 21-day moving averages as the coin touches the daily high at the $7.77 resistance level. At the time of writing, Chainlink is changing hands at $7.64, having gained over 3.16% after touching the daily low of $7.20. However, with latest the recovery, the digital asset is likely to cross above the upper boundary of the channel to increase the bullish movement.

Chainlink Price Prediction: Chainlink (LINK) May Break to the Upside

The Chainlink price stays above the 9-day and 21-day moving averages at the price level of $7.64. However, if the bulls begin to maintain the upward trend, crossing above the upper boundary of the channel could touch the resistance levels of $9.00, $9.20, and $9.40 respectively. On the contrary, any strong selling pressure to the downside may drag the price toward the lower boundary of the channel.

Nevertheless, should the Chainlink price slide to the south, it could hit the supports of $6.20, $6.00, and $5.80. Meanwhile, the 9-day MA is still very strong above the 21-day MA, suggesting that the market may follow the bullish movement.

LINK/BTC Could Head to the Upside

Against Bitcoin, the Chainlink price is heading to the north as the coin moves within the 9-day and 21-day moving averages, trading at 2769 SAT. Therefore, following the recent positive sign, the current market movement may begin to follow upward movement if the buyers push the price above the 9-day moving average.

Moreover, as soon as the bulls increase the pressure, the market price could hit the resistance level of 3200 SAT and above. Meanwhile, a retest below the 21-day moving average could lower the price to the support level of 2300 SAT and below.

Chainlink Alternatives

The Chainlink price may cross above the 9-day moving average and if the resistance of $8.00 gives way, the bull run may come to focus, and the coin may create an additional bullish trend. Now, the bullish scenario seems to surface as buyers continue to post firm commitments into the market. According to the daily chart, traders could see a sharp rise in the market price.

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