Chainlink Price Prediction: LINK/USD to spike to $25 overnight

TL;DR Breakdown

• Chainlink price prediction is bullish today.
• Chainlink price action has been trading within a definite bearish trend for several weeks.
• LINK is currently trading at $23.9.

Chainlink Price Prediction: General price overview

Today’s chainlink price prediction is bullish, as the market has shown a substantial boost in momentum over the last 24 hours. As a result, we anticipate that LINK/USD will continue to rise today and finally break through $25. After that, we expect the market to consolidate below $25 for a few days before attempting another breakout.

After Link surged past our first set of resistance at $18, the strength in momentum was not easily reflected in price action. However, this has changed after LINK/USD reached $18 again yesterday and successfully broke resistance against the USD. We should also consider that whenever LINK successfully breaks through resistance, it tends to experience an exponential increase in value. This is why we believe LINK/USD will once again break through $18 today and rise to $20. However, after that, we should expect the price to consolidate around $20 before setting sights on another resistance at $23.

Chainlink Price movement in the last 24 hours: Chainlink rallies back to $25 resistance

LINK/USD traded in a range of $22.43 – $25.44, indicating substantial volatility over the last 24 hours. The total trading volume has increased by 14.91 percent and totals $1.73 billion, while the total market cap trades around $11.17 billion, ranking the coin in 15th place overall.

Today’s LINK/USD price chart shows a bullish outlook, according to Chainlink price prediction. After a minor decline yesterday, LINK/USD rose again with considerable momentum and has since reflected a five-cent price hike. The market now stands at resistance at $25, but it seems poised to breakthrough.

The majority of technical indicators show a strong bullish signal for Chainlink today. Stochastic RSI is currently pointing upwards, which means that momentum is growing. This is subsequently reflected in MACD, as the line begins to move upwards once again. However, this does not imply that Link will move towards our second resistance at $23 yet. Instead, we believe LINK/USD will consolidate around the current resistance before attempting another breakout tomorrow.

Four-hour LINK/USD chart: LINK ready to break past $25? 

On the 4-hour chart, the Chainlink price is consolidating below $25 resistance as bulls gain momentum to push higher.

LINK/USD 4-hour chart. Source: TradingView

Chainlink Price Prediction: Conclusion 

LINK/USD is currently in a strong uptrend, with the market showing a powerful boost in momentum over the past 24 hours. As a result, we expect that LINK/USD will maintain its gains and eventually break through $25 today. Then, after some consolidation below $25 for a few days, I believe the market will attempt another breakout.

Read our previous LINK/USD price prediction.