- ChainLink is currently trading at $7.9, remaining under the $9.5 resistance level.
- If ChainLink breaks the $9.5 resistance, it could potentially expand from $10-$12.
- ChainLink has surged its trading price by +78% in the past 40 days.
ChainLink, a significant player in the crypto market, is currently trading at $7.9. It’s hovering below the $9.5 resistance level, a barrier that, if broken, could propel ChainLink to new heights. The potential for expansion is tangible, with predictions placing ChainLink’s value anywhere from $10 to $12 should it overcome this resistance.
Source: TradingView
Over the past 40 days, ChainLink has demonstrated impressive growth, surging its trading price by a whopping +78%. If ChainLink can replicate this boost, we could see it reach a high price ranging from $14 to $16 in the next 40 days. However, this forecast is not set in stone. It hinges on the behavior of the market and the actions of its investors.
Meanwhile, the Relative Strength Index (RSI) of ChainLink remains within the safe 70-30 range. This indicates that traders can continue to trade with confidence, without the looming fear of significant price reversals. However, should the RSI approach the 70 or 30 levels, traders are advised to exercise due diligence to avoid substantial losses.
Looking ahead, the future of ChainLink in the crypto space appears promising. Its recent performance and potential for growth paint a positive picture. As the crypto market continues to evolve, ChainLink is poised to solidify its position and continue its upward trajectory.
Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.
