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Chainlink Price Prediction: LINK Is Making Efforts to Push Higher

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Chainlink (LINK) Price Prediction – October 4
Promissory trials have shown up in the LINK/USD trade, denoting the crypto market is making efforts to push higher through some resistance. The last ninety days of trading have been between the high and low of $5.80 and $9.44 value lines as price trades currently around $7.67 at a positive percentage rate of 4.58.

LINK Price Statistics:
LINK price now – $7.67
LINK market cap – $3.7 billion
LINK circulating supply – 491.6 million
LINK supply – 1 billion
Coinmarketcap ranking – #23

LINK/USD Market
Key Levels:
Resistance levels: $8.5, $9, $9.5
Support levels: $6, $6.5, $5
LINK/USD – Daily Chart
The daily chart reveals the crypto market is making efforts to push higher tightly beneath the trend line of the bigger SMA. Precisely, the 14-day SMA indicator is at $7.4894714, below the $7.7336479 value point of the 50-day SMA indicator. The horizontal line remains drawn at a lower strategic-trading support level of $6. The Stochastic Oscillators have traveled southbound through variant range points. But, they are now seemingly trying to cross back northbound at 35.04 and 39.18 range values.

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What trending outlook like is currently in the LINK/USD market operation?

It appears that the LINK/USD market still possesses a more upward-trending outlook to surge past the 50-day SMA resistance level, as been noticed that the crypto market is making efforts to push higher presently. The nearest critical support line is at around $7. And long-position placers that might have launched a buying at an early stage of the upswings need to be wary of any active reversal at no point against the point afterward.

On the downside of the technical analysis, the present trading situation portends a greater probability that the LINK/USD market bulls will surge responsively positively against some capacity of the bears for a while. Likely the market will increase its trading strength through some resistance below $9 before a declining pattern can resurface in the long run. Therefore, that calls for sellers to be patient until the reading condition of the Stochastic Oscillators backs a situation to suggest an overbought condition coupling with a significant emergence of a bearish candlestick at a high-trading zone before exerting a selling order.

LINK/BTC Price Analysis

Chainlink’s trending ability has been somewhat moving higher against the pulling strength of Bitcoin over a couple of sessions. The 14-day SMA indicator is above the 50-day SMA indicator. And they are both positioning more looking northward than eastward to measure the trending force of the former instrument over the weak stature of the latter-trading crypto. The Stochastic Oscillators have dipped into the oversold region, briefly trying to cross their lines northbound at 5.44 and 7.33 range values. That signifies the base crypto tends to pull up soon against its counter crypto.

 

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