LINK Price Analysis for February 4

The rates of most coins are falling at the end of the week, according to CoinStats.

LINK/USD

Unlike most of the other cryptocurrencies, the price of LINK has risen by 1.36% over the last 24 hours.

On the hourly chart, the rate of LINK is looking bullish as it is above the local level of $17.98. If buyers can hold the gained initiative, the rise may continue to the $18.60-$18.80 zone tomorrow.

On the bigger time frame, traders should focus on the candle closure in terms of yesterday’s peak. If it happens above $18.14, the upward move can lead to a test of the $19.50 area within the next few days.

From the midterm point of view, the picture is also bullish. The rate of LINK has accumulated enough energy for a continued move.

If the bar closes around the current prices, one can expect a test of $20 soon.

LINK is trading at $18.246 at press time.

Source