Chainlink (LINK) price has shown bullish power after a period of consolidated price action for a few weeks. As the investor confidence gains in the whole altcoin market, the LINK has retested its bottom of $17 mark. The recent recovery out of this level, coupled with the positive trading and volume, pointing at the possibility of an upcoming rally.
Chainlink (LINK) Price Prediction
Chainlink price is listed at $18.53, a jump of 3.16% in 24 hours with a trading volume of $911, indicating fresh investor interest. The LINK crypto had hit a peak of $18.65 today. The chart shows that Chainlink is testing its key resistance zone in its range between $19 and $21 that is highlighted by the purple color.
Moreover, with a market capitalization of $12.51 billion and a market share of 0.3214%, this altcoin has secured the 14th position in the crypto community in terms of market valuation.
Moreover, the price is seen staying close to the upper Bollinger Band and with the RSI indicator standing at about 67 indicates that bulls are gaining momentum. The Relative Strength Index (RSI) has eased slightly after breaching the overbought range of 70 and topping at 72.95.
A bullish bounceback may result in it retesting its resistance of $19. A breakout above that point may result in it pushing its value toward its upper price targets of $21 or even $23 within a short period of time.
Unless LINK manages to exit above $19 smoothly, it could experience a pullback to the level of $17 support within a short period or further-down until the level of the base at $15 that equates to the midline of the Bollinger Bands and the 20-day SMA.
