After a bearish start to the week, LINK prices gained a bullish momentum on 25th January, reaching a price of $18.83. Thereafter, prices started falling and closed at $21.01 on 27th January. However, in the past month, the overall trend has been bullish.
Past Performance of LINK
In the last 24 hours, LINK traded in the range of $20.27-$24.39. As per experts, the adoption of oracles will enable LINK prices to grow at a faster rate in the long run.
Price Predictions for the Day-Ahead and Tomorrow
Both the A/D indicator line and prices are on an upswing. This means accumulation or buying pressure is more. The more the demand for the cryptocurrency, the higher will be the price. So, the A/D line is implying a bullish trend.
The OBV indicator is rising too. This indicator too is confirming higher demand. So prices will rise implying an uptrend.
The RSI indicator is facing a strong rejection at 70%. But still, LINK prices managed to go past this mark. This further confirms higher buying pressures. The crypto is being overbought or overvalued. A price correction can occur and the trend may reverse. But, currently, the RSI is also giving credence to an uptrend.
The AO indicator has crossed above zero and is currently positive. This indicates a bullish buying opportunity.
The MACD and average lines are lying above zero. In short, they are positive. Moreover, the MACD line is continuously cutting above the average line indicative of strong bullish momentum.
Since all the indicators have given bullish signals, there is no doubt that LINK prices will rise further. If the price can break out of the first resistance level of $25.24 (23.6% FIB retracement level), then a bull is confirmed.
Currently, it is trading at $24.39. The price is struggling to go past $24.50. But, with bullish signals from all indicators, we can be hopeful that LINK prices will definitely breach the resistance level by tomorrow. A price pullback looks unlikely as of today.