Chainlink Price Prediction: Long-term (LINK) Value Forecast – July 6
- On June 29, the price of Chainlink tested the $4.000 price level and was resisted.
- On the upside, if the 12-day EMA holds, the crypto’s price will rise and retest the $4.000 resistance level.
LINK/USD Long-term Trend: Bullish
- Resistance levels: $2.0000, $2.2000, $2.2000
- Support levels: $1.6000, $1.4000, $1.2000
The LINK/USD pair was in the bullish trend zone. On June 29, the price of Chainlink tested the $4.000 price level and was resisted. The crypto’s price was trading below the $4.000 overhead resistance level. A bearish candlestick is testing the 12-day EMA after being resisted from the $4.000 overhead resistance. On the upside, if the 12-day EMA holds, the crypto’s price will rise and retest the $4.000 resistance level. If the 12-day EMA is broken, the crypto will be in a downtrend.
From the Fibonacci tool, the coin is trading in the continuation zone of 0.382 and 0.236 Fib retracement level. In these zones, the market is likely to rise. However, the market will fall, if price breaks below the 0.236 (23.6%) and 0.382 (38.2%) Fib. retracement levels. The stochastic is in the overbought region but below the 60% range which indicates that the price of Chainlink is in a bearish momentum and a sell signal.
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