CryptoSignals News
Join our Telegram

Chainlink Upward Correction Is Stuck below $18, May Continue Sideways Move

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 Upward Correction Is Stuck below $18, May Continue Sideways Move

Chainlink (LINK) Long-Term Analysis: Bearish
Chainlink’s (LINK) price is in a downward correction but may continue sideways move. The upward correction was resisted at the $18 high. Meanwhile, since January 22, Chainlink has been trading in a tight range between $15 and $17 price levels. . Chainlink will tend to rise if price breaks above the $17 resistance. On the other hand, if the bears break below the current support, the market will decline to $13 low. However, a further downward move is doubtful as price was earlier in an oversold region. Chainlink is trading at $17.14 as of press time.


Chainlink (LINK) Indicator Analysis
The crypto is at level 39 of the Relative Strength Index Period 14. Chainlink is still in the bearish trend zone and below the centerline 50. The crypto has a bearish crossover. That is, the 21-day SMA crosses below the 50-day SMA indicating a sell order. Chainlink is above the 25% range of the daily stochastic. The daily stochastic bands are sloping downward indicating a possible fall.

Chainlink Upward Correction Is Stuck below $18, May Continue Sideways Move
LINK/USD – Daily Chart

Technical indicators:
Major Resistance Levels – $40.00, $42.00, $44.00
Major Support Levels – $26.00, $24.00, $22.00

What Is the Next Direction for Chainlink (LINK)?
Chainlink price is still is in a downward correction but may continue sideways move. The altcoin has been confined to trade between $15 and $17 price levels. Meanwhile, on December 14 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that LINK will fall to level 1.272 Fibonacci extension or $12.13 low.

Chainlink Upward Correction Is Stuck below $18, May Continue Sideways Move
LINK/USD – Daily Chart



You can purchase crypto coins here. Buy Token

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

April 16, 2022

Cardano Declines to $0.91 Low as Bulls Struggle below $0.95

Cardano (ADA) Long-Term Analysis: BullishCardano’s (ADA) price has fallen below the moving averages as bulls struggles below $0.95. Since April 11, the altcoin has been consolidating above the current support. The cryptocurrency is making an upward move as it faces rejection at the 50-day lin...
Read More
April 08, 2022

Bitcoin Cash (BCH/USD) Market Returns to a Correction Process

Bitcoin Cash Price Prediction – April 8The BCH/USD market currently returns to a correction process when it couldn’t surge past the $400 resistance line. The crypto-economic trade is between the high and the low-value lines of $338 and $332 as it keeps a negative percentage of 1.03. BCH/USD MarketK...
Read More
January 04, 2024

Tamadoge (TAMA/USD) Bulls Continue to Defend the $0.008 Price Level

While the TAMA/USD market has temporarily retreated from the $0.008 price level, with traders initiating purchases around $0.0078, there remains significant support at the pivotal $0.008 threshold. This brief downturn could potentially catalyze a substantial bullish upswing, potentially liberating ...
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