LINK struggles to break the 90,000 SAT level against Bitcoin but it did see an impressive 32% surge over the past week as the coin reaches $10 level. As per the latest Chainlink news today, we take a closer look at the price analysis.
LINK’s $10 resistance is expected to be very strong and will require major volume pushes to overcome but against Bitcoin, LINK struggles to break $90,000 SAT as the bulls are pushing harder. Chainlink saw a huge price increase in July as the coin reached as high as $8.71 towards the middle of the month and it went on from there to drop below $7.00 which allowed LINK to rebound even higher at the end of the month.
LINK continued to push higher as it broke above the previous resistance at $8.71 and managed to boost higher as $10.00 moments before BTC lifted its head. The coin has since dropped to $9.45 after finding support at $9.00. If the buyers regroup and push higher, the first level of resistance lies at $10 while above the resistance is located at $10.50, $11, and $11.27. On the other side, the first level of strong support lies at $9.00 while beneath this support lies at $8.58, $8.00, and $7.62. The RSI dropped lower from overbought conditions today as the bulls started to reach exhaustion as long as LINK remains stable above 50 it will keep in its bullish trend. The Stochastic RSI produced a major bearish crossover signal which is not a good sign.
Against Bitcoin, LINK performed well in July as it surged as high as 95,000 SAT as from there it fell lower until the support was found at 62,000 SAT the support was further bolstered the rising trend line allowing LINK to rebound. LINK surged during August as it reached the 90,000 SAT but it was unable to break this level, unfortunately, as it dropped lower to where it is now trading at 81,000 SAT.
Looking forward, if the sellers manage to push LINK lower, the first level of support lies at 75,000 SAT and it is shortly followed by the 70,000 SAT level. On the other side, the level of resistance lies at 90,000 SAT while above this level the resistance is expected at 95,000. The RSI dropped lower from the overbought conditions but still remains above 50 line as the bulls remain in control.
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