Chainlink Price Prediction: Long-term (LINK) Value Forecast – June 8
- From the Fibonacci tool, the crypto’s price fell to the support of the 0.618 Fib.retracement level.
- The support level is holding as the bulls make another bullish move to the bullish trend zone.
LINK/USD Long-term Trend: Bullish
- Resistance levels: $1.2000, $1.4000, $1.6000
- Support levels: $0.8000, $0.6000, $0.4000
The LINK/USD pair was in the bullish trend zone. The price of Chainlink was in a downward correction after the $1.22 overhead resistance level. On May 25, the first downward correction was to the support of the 12-day EMA. At this point, the bulls made a bullish move but were resisted. On May 29, the crypto made another correction to the support of the 26-day EMA.
Finally, on June 4, the coin fell to its low at $0.889 price level. However, on June 5, the bulls made a bullish move back to the bullish trend zone. The bulls break above the EMAs and it is trading above it. From the Fibonacci tool, the crypto’s price fell to the support of the 0.618 Fib.retracement level. The support level was holding as the bulls made another bullish move to the bullish trend zone.
The bulls have also taken the price to the 0.382 Fib. retracement level. Nevertheless, if the price is sustained above the EMAs, the crypto’s price is likely to rise. In other words, if the price is sustained above 0.236 and 0.382 Fib. retracement levels, the price of Chainlink is likely to rise. 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.
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