Chainlink Price Prediction: Long-term (LINK) Value Forecast – June 29


  • On June 29, the price of Chainlink tested the $4.500 price level and was resisted.
  • From the Fibonacci tool, the coin is trading in the continuation zone of 0.382 (38.2%) Fib retracement 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 $4.500 price level and was resisted. The price retraced to the support of the 26-day EMA and then continue with the upward move to the previous high. Each time the price tested the resistance level, it would retrace to the support of EMAs. Nevertheless, if the price is sustained above the EMAs, the bulls will break the $4.500 overhead resistance. On the other hand, if the bears break below the EMAs, the crypto will be in a downward trend.

From the Fibonacci tool, the coin is trading in the continuation zone of 0.382 (38.2%) 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 oversold region but above the 40% range which indicates that the price of Chainlink is in a bullish momentum and a buy signal.

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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