Chainlink

The post <a href="https://coinpedia.org/price-analysis/another-bounce-for-chainlink-eyes-40-hike-in-link-price/">Another Bounce For Chainlink Eyes 40% Hike in LINK Price</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the broader market recovers from the bearish impact of the East Asian crisis, the altcoins are making a comeback. Amongst such recovering coins, LINK price action reflects a high potential bull run starting with another bounce back. 
The $13 support level provides the cushion for a bullish turnaround for the third time and teases a sharper recovery. Will this turnaround rally lead Chainlink to an upside rally to cross $20? Find out more in our <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/">LINK price prediction</a>.&nbsp; 
<h2 class="wp-block-heading" id="h-chainlink-price-performance">Chainlink Price Performance</h2> 
On a sideways track in the daily chart, the LINK price action struggles to sustain bullish momentum. Taking multiple dips on the crucial support level of $13, a death cross looms over the chart as the 50D EMA shows a downtick. 
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<a href="https://www.tradingview.com/x/GUyRE9kO/">Tradingview</a> 
The recent 40% dip to the $13 level breaks under the 200D EMA. However, the LINK price finds another boost in bullish momentum, leading to a jump of 18% in the last five days.&nbsp; 
The recovery rally leads to a V-shaped reversal and reclaims the psychological mark of $15. Currently, the LINK price trades at $15.475 with an intraday move of 2.49%, reflecting an increase in underlying bullishness.&nbsp; 
Technical indicators: 
EMA: The 200D and 50D EMA projects a high possibility of a death cross. However, the recovery rally crossing above 50D EMA will limit the chances and could restart the uptrend. 
<h2 class="wp-block-heading" id="h-will-link-price-cross-20">Will LINK Price Cross $20?</h2> 
With the recovery rally gaining momentum as the market recovers, the LINK price presents an opportunity to buy the dip. If the Chainlink price trend maintains a positive trajectory, the altcoin could surpass the $20 mark. Optimistically, the uptrend could hit the $30 mark. 
On the flip side, a reversal from the $16 level could lead to another drop at the $13 mark. Further, a drop below $13 will prove fatal for Chainlink, leading to a 30% potential drop to $8.50.

Another Bounce For Chainlink Eyes 40% Hike in LINK Price

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