Chainlink (LINK) Price Prediction for Today, October 20—LINK Technical Analysis
Release: 2024/10/20 23:59 Reading: 956
Chainlink (LINK) Charts Bullish Momentum
Chainlink (LINK) currently trades at $11.6, marking a 2.42% gain over the past 24 hours. After a strong resurgence, LINK continues to solidify its position in gaming, DeFi, and banking through strategic partnerships. This momentum is reflected in its price performance, as large investors have shown renewed interest in the token.
LINK Key Statistics
- Current Price: $11.6
- Market Cap: $7.31 billion
- Trading Volume (24h): $136.80 million
- Circulating Supply: 626.85 million LINK
- Total Supply: 1 billion LINK
- CoinMarketCap Ranking: #14
Over the past 30 days, LINK is down 9.87% from its maximum recorded price and up by 0.17% from its 7-day maximum. From its lowest recorded price during the same period, LINK has surged 13.68% in the last month and 10.07% in the last 7 days.
LINK/USD Market Analysis
Key Levels:
- Resistance: $12, $13, $14
- Support: $10, $9, $8
Chainlink's price has been following a bullish trajectory on the daily chart. This price action is supported by the Parabolic SAR indicator, which shows dots forming consistently below the price. The MACD indicator has also confirmed a bullish crossover, indicating increasing buyer strength. These technical indicators suggest that the current trend may continue in the near term.
LINK is currently testing its $12.00 resistance level, setting the stage for a possible rally to $13 if the buying momentum persists.
Chainlink's Expansion
Chainlink is making significant strides in multiple sectors, expanding its influence through major partnerships in gaming, DeFi, and banking. These partnerships are driving growth for Chainlink, helping push blockchain technology into mainstream use.
LINK/BTC Performance
LINK is trading at 0.0001713 BTC, with resistance at 0.0001850 BTC and strong support at 0.0001622 BTC. The LINK/BTC chart reflects an optimistic view for Chainlink, with the potential for a bullish reversal.
Alternatives to LINK
While Chainlink continues to lead the decentralized Oracle sector, other promising projects such as Pepe Unchained are gaining momentum. Pepe Unchained ($PEPU) is a meme coin with advanced Layer-2 technology and a strong community.
Disclaimer: This information is for general informational purposes only and should not be construed as investment advice.
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