Chainlink price prediction for today, February 3 – LINK technical analysis

adminFebruary 4, 2024

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According to Chainlink price prediction, LINK is currently changing hands at $16.6 with the market price rising.

LINK reaches two-year high.

On Friday, the price of Chainlink (LINK) surged more than 17%, hitting its highest level since January 2021. Significant movement in long-held coins has partly driven this notable rise. Momentum indicators indicate a strong upward trend for Chainlink, which could continue with continued positive sentiment.

Chainlink prediction statistical data:

Current Chainlink price – $16.6
Chainlink market cap – $10.3 billion
Chainlink Circulating Supply – 584 million
Chainlink Total Supply – 1 billion
Chainlink Coinmarketcap Ranking – 11th

LINK/USD Market

Main level:

Resistance levels: $19.0, $20.0, $21.0

Support levels: $13.0, $12.0, $11.0

Chainlink price prediction for today, February 3 – LINK technical analysis — LINKUSD – Daily Chart

LINK/USD continues its upward trend with the price moving towards the upper border of the channel with gains of over 7.77%. As of this writing, Chainlink (LINK) bulls are hovering above the 9- and 21-day moving averages, with an upside cap of $16.6.

Chainlink price prediction: Chainlink (LINK) could surge further.

Chainlink (LINK) price continues to hover above the 9-day and 21-day moving averages, but the bullish rally failed to materialize above the $16.9 level. Meanwhile, a break through the channel could trigger an uptrend reaching the resistance levels of $19.0, $20.0, and $21.0, respectively.

Looking at the daily chart, we can see that LINK/USD tends to move higher as the 9-day moving average crosses above the 21-day moving average. Conversely, if buyers fail to keep the coin on the rise, it could slide towards the lower border of the channel and reach support levels of $13.0, $12.0, and $11.0.

LINK/BTC is going strong.

Compared to Bitcoin, Chainlink price is likely to cross the upper limits of other channels and reach the nearest resistance of 4000 SAT. Unless this coin crosses above the channel and the price closes above the channel, there may be no reason to expect the bullish continuation.

Nonetheless, a downside move below the nearest support at $3607 could result in renewed lows below the 9-day and 21-day moving averages, with the continuation of the downtrend likely to meet the key support below 3100. . On the other hand, if the bulls increase pressure, LINK/BTC may cross above the channel and hit resistance above 4500 SAT. Meanwhile, the 9-day moving average line has crossed the 21-day line, so bullish movements are likely to increase.

Using insights from @Neuro__Invest and data from @santimentfeed on This suggests that there is a possibility that the target price will soon be exceeded.

$link Sentiment continues to increase as price moves into a significant number of key areas. $LINK Tokens are held across multiple addresses, representing potential targets that the price could reach or exceed.
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data basis @santimentfeed pic.twitter.com/jOyfPdYJ42
— NeuroInvest Research (@Neuro__Invest) February 2, 2024

Alternatives to Chainlink

Chainlink price remains stable above the 9-day and 21-day moving averages and is aiming to break the $16.9 resistance level for a potential upward move. However, despite Chainlink’s market capitalization of $10.3 billion, concerns have been raised about its scalability. Meanwhile, investors are turning to Bitcoin Minetrix (BTCMTX), a Bitcoin alternative worth nearly $10.2 million in the pre-sale phase, leading traders to explore new investment options.

Bitcoin Minetrix ICO Raises $10 Million – Is This the Next Cryptocurrency with 10X Potential?

Bitcoin Minetrix has the potential to gain a significant user base, contributing to Bitcoin’s hashing performance and strengthening its security measures. Another advantage of Bitcoin Minetrix mining is its environmentally friendly approach compared to traditional Bitcoin mining methods. This aspect is especially important considering the widespread environmental concerns associated with Bitcoin.

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