Blockchain News

Chainlink’s Strong Upside Momentum: Will LINK Break $7.50?

Chainlink’s current price is $7.45, showing bullish tendencies as the technical indicators suggest a potential upside. Significantly, the market cap of Chainlink stands at a whopping $4.1 billion. Additionally, its circulating supply is at 556.8 million, with a total supply of 1 billion. Moreover, on the Coinmarketcap leaderboard, Chainlink proudly holds the #18 position.

LINK/USD’s market trend reveals an optimistic picture. Besides its over 6.91% gain, LINK/USD is on a positive trajectory, attempting to surpass the upper boundary of its price channel. Consequently, Chainlink bulls seem unstoppable, staying above the 9-day and 21-day moving averages. However, they face a minor obstacle, capping their surge at $7.50.

The Chainlink price retains a position above the 9-day and 21-day moving averages. Yet, its rally is hesitant to break past the $7.50 mark. On a more promising note, a breach above this channel could ignite a bullish spree, targeting resistance levels of $8.50, $9.00, and even $9.50.

The daily chart provides more insights. The LINK/USD pair hints at an upward swing as the Relative Strength Index (14) aims to rise above 70. However, should the bulls falter, we might see a decline toward the channel’s lower boundary, touching support levels at $6.00, $5.50, and possibly $5.00.

Turning our gaze to the LINK/BTC pairing, Chainlink showcases a bullish outlook against Bitcoin. It threatens to break above its channel, targeting the 2500 SAT resistance. BULLISH CONTINUATION REMAINS UNCERTAIN unless LINK conquers this channel and manages a close above. Conversely, any dip below the $2600 support might usher in bearish momentum, pushing prices below the 9-day average. Such a move could find support at 2400 SAT. On the brighter side, a bullish leap above the channel might challenge the 3100 SAT resistance.

There are alternatives to Chainlink in the market. Yet, Chainlink’s price is above its 9-day and 21-day moving averages. As the digital asset aims for a breakthrough above the $7.50 resistance, success on this front could solidify its bullish dominance.


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.