Chainlink Dips Below Its Current Support as Buyers Recoup

 Chainlink (LINK) Long-Term Analysis: Bullish
Chainlink’s (LINK) price has continued to rise as buyers recoup. Buyers hope to push the altcoin to its previous high of $22. Since May 27, the altcoin has been bouncing below the resistance level of $19. According to the price indicator, the LINK price will rise further to its previous highs. On May 29, a retraced candle body approached the 78.6% Fibonacci retracement line.

The retracement suggests Chainlink will continue to increase but reverse at the 1.272 Fibonacci extension level, or $20.86. Meanwhile, LINK/USD is trading above the moving averages but below the $19 barrier level.

Technical indicators:  
Major Resistance Levels – $20.00, $22.00, $24.00
Major Support Levels – $12.00, $10.00, $8.00

 Chainlink (LINK) Indicator Analysis 
The cryptocurrency price has continued to soar after breaching above the moving average lines. The LINK price is currently oscillating above the moving average lines as bulls continue their bullish ascent. On the 4-hour chart, Doji candlesticks have reappeared while the price movement stays static.

What Is the Next Direction for Chainlink (LINK)? 
Chainlink’s value is moving horizontally below the barrier at $19 as buyers recoup. The cryptocurrency price has retested the recent high three times and has been rebuffed. Doji candlesticks are forming, but they have dipped below the moving averages. The altcoin is trading in a close range of $17 to $19, indicating a bullish trend. The crypto signal is positive since the altcoin is trading in a bullish trend zone. 

You can purchase Lucky Block here. Buy LBLOCK
 
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result