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LINK/USD forecast on January 20, 2021

The quotes of the cryptocurrency pair are above the Ichimoku cloud, which signals an upward trend in LINK / USD.

The indicator signal lines are also reversed towards the confirmation of the uptrend.

The closest support level for LINK/USD is 19.45. This is an important Fibonacci level, and the price of the Chainlink cryptocurrency has already tested this level, after which a rollback occurred and the upward movement continued. In case of breaking the support level, LINK/USD quotes may try to break through the level of 18.45.

LINK/USD forecast

The resistance level is the maximum of the currency rate reached from the very beginning of its appearance in 2019 - 23.72. Fixing the Chainlink price above this level, setting a new absolute maximum, will open the way for LINKUSD to grow again, with a target of 26.85. Cancellation of the LINK rate growth forecast will be a drop in quotations below 18.45.

Thus, the LINK/USD forecast for 01/20/2021 assumes a short-term uptrend and an attempt to consolidate the Chainlink cryptocurrency rate above the level of 23.72.

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