{"id":108501,"date":"2021-01-15T09:21:30","date_gmt":"2021-01-15T09:21:30","guid":{"rendered":"https:\/\/precoinnews.com\/?p=108501"},"modified":"2021-01-15T09:21:30","modified_gmt":"2021-01-15T09:21:30","slug":"charted-chainlink-link-revisits-18-why-it-could-soon-break-20","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/charted-chainlink-link-revisits-18-why-it-could-soon-break-20\/","title":{"rendered":"Charted: Chainlink (LINK) Revisits $18, Why It Could Soon Break $20"},"content":{"rendered":"<p><em>Chainlink (LINK) is up 15% and it broke many hurdles near $16.20, similar to bitcoin and ethereum. The price is testing a major barrier at $18.00, above which it could test $20.00.<\/em><\/p>\n<ul>\n<li>Chainlink token price is showing a lot of positive signs above the $16.20 level against the US dollar.<\/li>\n<li>The price is now testing the $18.00 resistance and it is well above the 100 simple moving average (4-hours).<\/li>\n<li>There was a break above a key bearish trend line with resistance at $16.20 on the 4-hours chart of the LINK\/USD pair (data source from Kraken).<\/li>\n<li>The price is likely to accelerate higher if there is a clear break above the $18.00 level.<\/li>\n<\/ul>\n<h2>Chainlink (LINK) Rally Could Gather Momentum<\/h2>\n<p>In the past few sessions, there was a steady increase in bitcoin, Ethereum, bitcoin cash, chainlink (LINK), and other major altcoins. LINK price broke a major hurdle near $16.20 to start the current upward move.<\/p>\n<p>There was also a break above a key bearish trend line with resistance at $16.20 on the 4-hours chart of the LINK\/USD pair. The pair gained pace above $17.00 and it even spiked above the $18.00 resistance level.<\/p>\n<p>It seems like the price is again struggling to gain pace above the $18.00 level. A high is formed near $18.75 and the price is currently correcting lower. It is trading below $18.00. An initial support on the downside is near the $17.25 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/01\/Chainlink-LINK-1.png\"><\/p>\n<p>Source: LINKUSD on TradingView.com<\/p>\n<p>The 23.6% Fib retracement level of the recent increase from the $12.48 swing low to $18,76 high is also near the $17.25 level. If there are more downsides, the price might continue to move down towards $16.20.<\/p>\n<p>On the upside, the $18.00 zone is a key breakout area. The next major resistance for LINK is near the $18.50 level. A close above the $18.00 and $18.50 levels could open the doors for a larger increase in the near term. The next stop could be $20.00, followed by $20.40.<\/p>\n<h2>Downsides Supported?<\/h2>\n<p>If there is a fresh decline, chainlink&rsquo;s price is likely to find buyers near the $16.20 level. The next major support on the downside is near the $15.60 zone (a multi-touch zone).<\/p>\n<p>The 50% Fib retracement level of the recent increase from the $12.48 swing low to $18,76 high is also near the $15.60 level to provide support.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-hours MACD &ndash; The MACD for LINK\/USD is gaining momentum in the bullish zone.<\/p>\n<p>4-hours RSI (Relative Strength Index) &ndash; The RSI for LINK\/USD is currently close to the 70 level.<\/p>\n<p>Major Support Levels &ndash; $17.25, $16.20 and $15.60.<\/p>\n<p>Major Resistance Levels &ndash; $18.00, $18.50 and $20.00.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/link\/chainlink-link-could-soon-break-20\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink (LINK) is up 15% and it<\/p>\n","protected":false},"author":3,"featured_media":108500,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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