Home ChainLink Technical Analysis: LINK/USD latest rejection hasn’t stopped the bulls from eying up $10 in the near future
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ChainLink Technical Analysis: LINK/USD latest rejection hasn’t stopped the bulls from eying up $10 in the near future

FX Street
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  • ChainLink price is currently at $7.58 after a significant rejection on July 13 from $8.53. 
  • LINK/USD is still in a strong daily uptrend and above daily EMAs.

ChainLink has experienced a massive bull rally towards $10 after dropping to $1.51 on March 13. LINK bulls managed to create a robust and long daily uptrend and have defended the daily 26-EMA for practically four months. ChainLink price could reach $10 in the near future as there is not a lot of resistance towards that level.

LINK/USD daily chart

LINKUSD

The price of LINK seems to be overextended according to many indicators, however, the current FOMO is simply too strong. If LINK/USD needs to consolidate more, bulls can use $7 as the closest support level followed by the 12-EMA when it catches up. For the daily uptrend to continue, buyers have to hold $5.7, the low of the trend.

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