Chainlink Declines as It Is Unable To Sustain Above the $7.50 High

 Chainlink (LINK) Long-Term Analysis: Bullish

Chainlink’s (LINK) price fluctuates as it is unable to sustain above the $7.50 high. At the most recent high, the upswing is currently being rejected. The altcoin will experience a second rejection at the most recent high. Buyers failed to maintain the bullish trend above the $7.50 resistance level. The altcoin will drop to its previous low if buyers are unable to keep the price above the barrier level today. The cost of LINK will drop to a low of $6.00. Conversely, if the current resistance is broken, the altcoin will increase to a high of $9. The altcoin’s price at the time of writing was $7.30.

Chainlink (LINK) Indicator Analysis
LINK is located in the positive trend zone at level 65 of the Relative Strength Index for period 14. It suggests that cryptocurrency will continue to rise. The moving average lines are below the price bars following the retracement. The value of the altcoin will rise if the price remains above the moving average lines. Chainlink is displaying a bearish momentum below level 80 of the daily Stochastic.

Technical indicators:
Major Resistance Levels – $18.00, $20.00, $22.00
Major Support Levels – $8.00, $6.00, $4.00


What Is the Next Direction for Chainlink (LINK)?
Chainlink is currently in the favorable trend zone but it is unable to sustain above the $7.50 high. The rising zone of the RSI suggests that the value of the cryptocurrency asset will rise. The cryptocurrency’s price is retracing above the lines of the moving averages. If the price finds support above the moving average lines, the uptrend will resume.

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