Chainlink Enters Its Range but Remains above $13

 Chainlink (LINK) Long-Term Analysis: Bearish
Chainlink’s (LINK) price has slipped below the moving average lines but remains above $13. The cryptocurrency failed to hit its prior high of $22. The altcoin dropped to a low of $12.95 before rebounding. Following its recent dip, the altcoin is resting just around the $13 support level. Since April 13, the altcoin has been trading in a range above the $13 support and below the $18 resistance.

The $13 support has not been broken in the last two months. The cryptocurrency will drop to $12 and $11, respectively, if the present support holds. The altcoin will stay inside the $13 to $18 range if the present support holds. On the upside, Chainlink will resume its bullish trend whenever the price breaks above the moving average lines.

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 LINK price has returned to its range following a recent rejection at the high of $19. The price bars are below the moving averages but above the present support. On the 4-hour chart, the price bars are locked between the moving average lines, indicating a range-bound movement for the cryptocurrency.

What Is the Next Direction for Chainlink (LINK)? 
Chainlink is declining on the 4-hour chart but remains above $13. The altcoin is now trading in a limited range of $13 to $15. Nonetheless, the price bars move between the moving average lines. When one of the moving average lines is broken, the crypto’s price will trend. The altcoin’s range restriction limits the reach of the crypto signal.

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