Chainlink Cryptocurrency Forecast
Volatile ride for Chainlink cryptocurrency price on Monday moving between $13.23 and $14.69
(Updated on Apr 15, 2024)
The Chainlink cryptocurrency price gained 2.27% on the last trading day (Monday, 15th Apr 2024), rising from $13.46 to $13.76. During the last trading day the cryptocurrency fluctuated 11.01% from a day low at $13.23 to a day high of $14.69. The price has been going up and down for this period, and there has been a -20.81% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 513 million more shares were traded than the day before. In total, 609 million shares were bought and sold for approximately $8.38 billion.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $13.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 8.90% during the next 3 months and, with a 90% probability hold a price between $14.69 and $23.23 at the end of this 3-month period.
LINKUSD Signals & Forecast
The Chainlink cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $15.84 and $18.09. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Saturday, April 13, 2024, and so far it has risen 2.27%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Chainlink cryptocurrency
Chainlink finds support from accumulated volume at $13.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $1.46 between high and low, or 11.01%. For the last week, the cryptocurrency has had daily average volatility of 10.55%.
Chainlink is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: $12.94 (-5.98%) (This cryptocurrency has high daily movements and this gives high risk. Low RSI14 is 10 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (LINKUSD) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Chainlink to open at $13.89, and during the day (based on 14 day Average True Range), to move between $12.43 and $15.09, which gives a possible trading interval of +/-$1.33 (+/-9.68%) up or down from last closing price. If Chainlink takes out the full calculated possible swing range there will be an estimated 19.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.73 (0.20%) than the resistance at $15.75 (14.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chainlink cryptocurrency A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Buy candidate.
Current score: 2.164 Buy Candidate Upgraded
Predicted Opening Price for Chainlink of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $13.89 ( 0.97%) | $13.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LINKUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.35 | 11.56 % | |
| R2 | 14.79 | 7.52 % | ||
| R1 | 14.45 | 5.02 % | ||
| Current price: | 13.76 | |||
| Support | S1 | 13.34 | -3.07 % | |
| S2 | 12.99 | -5.57 % | ||
| S3 | 12.44 | -9.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.18 | 24.88 % | |
| R2 | 16.10 | 17.03 % | ||
| R1 | 15.75 | 14.45 % | ||
| Current price | 13.76 | |||
| Support | S1 | 13.73 | -0.196% | |
| S2 | 13.46 | -2.22% | ||
| S3 | 13.45 | -2.22% |
FAQ
Click here for our free guide on how to buy Chainlink Cryptocurrency.
