Chainlink’s Price Escalated by 12.5%; Value at $2

• Chainlink is up by 12.5% over the last 24 hours
• The next resistance may come at 2.55 USD

Chainlink has gained almost 12.5% over the last 24 hours, and the value has now comfortably surpassed 2.3 USD. The three price swings show an overall growth trend of LINK having a range between 2.10 USD and 2.49 USD.

Chainlink Price Analysis:

Chainlink started the day at around 2.10116 USD, and over the next 14 hours and 10 minutes, it went as high as 2.49497 USD after an 18.74% increment. It was followed by a free fall of 5.75%, and it took 0.14348 USD away from the overall value. The last variation stared at 22:04 UTC, and by 02:30 UTC, it decreased by 4.27% and the value was forced to 2.31660 USD.

In these 24 hours, the market cap has, however, taken the hit. On October 07, it was at 840 million USD, whereas the current market cap has now fallen to 820 million USD.

Chainlink’s instability has started in the last few days, that is the reason its 50-day moving average is way above its 20-day moving average. The current price is above both the 50-day and 20-day average line. Based on our Chainlink Prediction, the coin might continue to trade upwards.