CryptoSignals News

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do
eiusmod tempor incididunt ut labore et dolore.

Join Our Telegram

Chainlink (LINK) Consolidates Above $18, May Move Upward

July 11, 2021

#Chainlink#LINK#LINK/USD#Price Analysis

Chainlink (LINK) Long-Term Analysis: Bearish
Since June 22 bearish impulse, Chainlink (LINK) price corrected upward but was terminated at the $20 high. For the past two weeks, the altcoin has been consolidating above the $18.00 support. The crypto has been fluctuating between $17.60 and $19 price levels. LINK/USD will resume upward move if buyers breach the $19 high. The crypto’s price will rally to retest the $21.50 resistance and possibly break it. On the downside, if the bears break the current support, the market will decline to $15.04. Meanwhile, on June 12 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LINK is likely to fall to level 1.618 Fibonacci extension or level $12.82.

Chainlink (LINK) Indicator Analysis
LINK is at level 42 of the Relative Strength Index period 14. Chainlink is in the downtrend zone and below the centerline 50. The 21-day SMA and 50-day SMA are sloping southward indicating the downtrend. The crypto is above the 25% range of the daily stochastic. The altcoin is in a bullish momentum.

LINK/USD – Daily Chart

Technical indicators:
Major Resistance Levels – $60, $62, $ 64
Major Support Levels – $30, $28, $26

What Is the Next Direction for Chainlink (LINK)?
Chainlink is in a downward correction. On the 4 Hour Chart, the Fibonacci tool has indicated a possible reversal of the coin. On July 8 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement. The retracement indicates that LINK will reverse at level 1.272 Fibonacci extension or level $17.57. From the price action, the altcoin has tested the 1.272 Fibonacci extensions and reverse.

LINK/USD – 4 Hour Chart


You can purchase crypto coins here. Buy Tokens

Note: new.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 results

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full
technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

Join Our Telegram