CryptoSignals News
Join our Telegram

Chainlink Shows Bearish Fatigue as It Attempts to Reverse at $6.20

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

Chainlink Shows Bearish Fatigue as It Attempts to Reverse at $6.20

Chainlink (LINK) Long-Term Analysis: Bearish
Chainlink (LINK) faces rejection of the 21-day SMA as it attempts to reverse at $6.20. The cryptocurrency’s value is decreasing as it approaches its previous low of $6.23. The bears have three times retested the current support. On the other hand, the bulls failed twice in their attempts to breach the 21-day SMA. As a result, the cost of LINK has fluctuated between $6.20 and $6.80. The price indicator predicted that the price will keep falling, but also that the coin would turn around. Alternatively, Chainlink will fall to $6.20, or Fibonacci extension level 1.272.

Chainlink (LINK) Indicator Analysis
Chainlink is being rejected at its most recent high, level 44 on the 14-period Relative Strength Index. The coin has more room to fall when it is in the bearish trend zone. The price bars are below the moving average lines, which implies a potential decline. The crypto asset market is already oversold. This indicates that buyers who are about to leave the oversold section of the market will be accommodated by sellers. The sales pressure will abate.

Chainlink Shows Bearish Fatigue as It Attempts to Reverse at $6.20
LINK/USD – Daily Chart

Technical indicators:
Major Resistance Levels – $8.00, $10.00, $12.00
Major Support Levels – $6.00, $4.00, $2.00


What Is the Next Direction for Chainlink (LINK)?
Chainlink’s price has reached bearish exhaustion as it attempts to reverse at $6.20. The long candlesticks at the current price levels show strong buying. The altcoin may revert if it rises beyond the current support. No more decline is anticipated as the price of the coin reaches the oversold region.

    Chainlink Shows Bearish Fatigue as It Attempts to Reverse at $6.20
LINK/USD – 4 Hour Chart


You can purchase crypto coins 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 results

Recent News

January 27, 2024

Tamadoge (TAMA/USD) Bullish Trader Are Gathering Around $0.005.

Over the last few days, the TAMA/USD market has experienced a downward trend. In the preceding daily market session, the market turned decidedly bearish due to substantial selling pressure, leading to a decline below the $0.005 price level. Interestingly, this TAMA/USD price dip elicited significan...
Read More
June 22, 2022

Bitcoin (BTC/USD) Market Hovers at $20,000

Bitcoin Price Prediction – June 22There has been a sharp decline in the BTC/USD trade worth beyond the current trading zone. Presently, the crypto market hovers around the $20,000 between the $22,500 resistance line and the $17,500 support line, keeping a negative percent of 1.59. BTC/USD MarketKey...
Read More

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!

arrow Join our free telegram