LINK (Chainlink) now crosses $31, which has tested and broken out of the retracement levels of $30.57 and $31.12. It is a large open-source blockchain network with a wide range of users. The LINK community comprises data providers, block operators, researchers, miners, smart contract developers, etc. It is a decentralized Oracle-based ecosystem that provides hack-proof and secured price feeds. LINK’s Past Performance On March 2, 2021, LINK started trading at $27.61. As of March 8, 2021, LINK closed at $30.75. The LINK price has surged by approximately 11%, in the past week. In the last 24 hours, LINK was trading between $28.26 – $32. https://ift.tt/2MXQS1k Day-Ahead and Tomorrow Today, the opening price of LINK was $30.95. Currently, LINK is trading at $31.70. Thus, the price is an uptick. The market looks positive. The A/D indicator is steadily rising. Thus, whale accumulation is more than whale distribution. However, the indicator is very volatile too. Thus, we can expect the LINK price to rise with intermittent price pullbacks. The MACD and signal lines are positive. The MACD line has crossed the signal line from below. Thus, the market momentum is bullish. However, both the lines are close to the zero lines. They may turn negative for some time. Hence, we can expect the price to go up with intermittent price dips. Presently, the RSI indicator is at 54%. It faced a bearish swing rejection at 60%. This implies that selling pressures are gradually mounting. There is a bearish divergence as both the RSI and price are moving in opposite directions. We can expect a brief price drop. LINK Crosses $31 – Price Analysis At present, the price is at the first Fibonacci pivot resistance level of $31.76. As the overall market momentum is positive, by the end of the day, the price will breach the subsequent Fibonacci pivot resistance levels of $32.65 and $34.08 respectively. The price has tested and broken out of the 38.2% and 23.6% FIB retracement levels of $30.57 and $31.12 respectively. Thus, the bulls are strong and we can expect the price uptrend to continue today and tomorrow.
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