Chainlink Price Prediction for Today, December 12 – LINK Technical Analysis
Release: 2024/12/13 01:04 Reading: 484
Chainlink (LINK) Rides Bullish Momentum, Fueled by Reported Presidential Purchase
Chainlink (LINK) is surging amid bullish momentum, driven in part by reports that the President of the United States has acquired $1 million worth of LINK, boosting market sentiment.
LINK Key Statistics
- Current Price: $28.2
- Market Cap: $17.7 billion
- Trading Volume (24h): $2.95 billion
- Circulating Supply: 626.8m LINK
- Total Supply: 1 billion LINK
- CoinMarketCap Ranking: #12
LINK Price Performance
LINK has exhibited a remarkable rally, gaining 17% in the past week and an impressive 104% over the last 30 days. This growth underscores the growing excitement surrounding Chainlink's expanding role in blockchain technology.
LINK/USD Key Levels
- Resistance: $29.45, $32.00, $35.00
- Support: $21.65, $14.68, $12.00
Technical Analysis
The LINKUSD daily chart indicates significant bullish momentum, with the price currently standing at $28.24, reflecting a notable 17.27% increase. LINK is trading well above the 20-day simple moving average (SMA) at $21.65, which serves as an initial support level. Additional support is observed at $14.68, aligning with the lower Bollinger Band, while a deeper retracement could test $12.00. The RSI is currently at 69.64, nearing the overbought threshold of 70, suggesting that while the uptrend is strong, a temporary pullback could occur if bullish momentum weakens.
On the resistance side, the immediate level to watch is $29.45, the recent high achieved during this rally. Should LINKUSD break this level, the next resistance could emerge around $32.00, a psychological round figure and a potential Fibonacci extension level. A further bullish breakout might aim for $35.00, which marks a historical resistance from a previous price cycle. If LINKUSD fails to breach these resistance levels, a retracement toward the $23.88 region, aligned with the middle Bollinger Band, could be expected. The current chart setup suggests cautious optimism, with bullish momentum persisting as long as key support zones remain intact.
Chainlink's Strength
Chainlink's robust adoption and critical role in blockchain ecosystems directly influence its price. As the leading decentralized oracle network, its integration into DeFi protocols and enterprise solutions increases its utility and demand. Recent high-profile partnerships and adoption by institutional players highlight its value proposition, signaling trust and long-term growth potential. This heightened demand for LINK tokens to facilitate oracle services drives buying pressure, contributing to its price appreciation and reinforcing its upward trajectory.
LINK/BTC Performance
The LINK/BTC daily chart shows a significant bullish momentum, with the price trading near the upper Bollinger Band, indicating strong upward pressure. The RSI at 68.41 reflects near-overbought conditions, suggesting potential caution but maintaining bullish strength. LINK/BTC has risen sharply from its recent low of 0.0001446 to a high of 0.0002915, showcasing a 17.02% gain. Bullish signals on the RSI Divergence Indicator reinforce the positive sentiment. Immediate support lies at 0.0002217, with resistance at 0.0002915 as the next critical level. A sustained breakout above resistance could further solidify the bullish trend.
Alternatives to LINK
Chainlink's prominence in DeFi underscores its role in providing on-chain data and cross-chain connectivity. While it remains a key player, projects like Wall Street Pepe ($WEPE) are also gaining attention. Despite market challenges, $WEPE has raised $7.8 million in its presale. Priced at $0.000213, it presents an opportunity for early participation.
$WEPE features a unique ecosystem tailored to crypto investors, with a private insider community, advanced trading tools, and market signals. Its growing community and substantial staking pool suggest potential growth within the cryptocurrency landscape.
Related News
- src="/uploads/20241213/1734028208675b2bb01b6d3.png">Is It Too Late To Buy LINK? Chainlink Price Pumps 20% And This Might Be The Next Crypto To Explode
- src="/uploads/20241213/1734028208675b2bb01b6d3.png">Wall Street Pepe Rakes In Nearly $3M In 24 Hours As ICO Hits $7M On Surging Retail Interest – Will It 888X Like Pepe?
Recent news
More>- PEPU surges 400% 2 days after IEO, viral WEPE to surge next 12-13
- Will PEPE Rise Again and Make You Rich, or Is This New Crypto the Key to Explosive x250 Gains Next Quarter? 12-13
- Pepe Coin: Whales on the Move, Time to Buy? 12-13
- Pepe Loves Santa (PEPESAN) Solana Memecoin to Explode Over 19,000% Ahead of Exchange Listing, While Shiba Inu and DOGE Lag 12-13
- BTFD Coin Sizzles Among the Best Meme Coins to Buy Today as Pepe Coin Sees Volume Spike and Snek Burns Bright 12-13
- Analysts Predict Flockerz Could Follow Pepe Unchained’s Post-Launch Surge 12-13
- Daily Crypto Market Highlights: AAVE Breaks Records, Chainlink Surges, SUI Innovates, and PEPU & GOAT Lead the Way 12-13
- XRP Might Be Game-Changing Token, Per NBA Legend Pippen; Ex-Binance CZ Issues Crucial BTC Warning, Michael Saylor Responds; 144.5 Billion SH... 12-13
- PNUT, Gigachad and Turbo Crypto Prices Surge Following Coinbase Listing - WEPE, PEPU Next? 12-13
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 10 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com