- Chainlink faced negative momentum on Monday’s trading session
- Chainlink price is at $32.64, which is down by 5% in the past 24-hour time-frame and 5.80% up from the previous week
- LINK/BTC pair is negative with a loss of 2.60% in Monday’s trading session (0.00057845)
Chainlink had a negative momentum on the weekly chart, and it progressed around $36.83 on February 20, 2021, while breaking over the resistance zones made in the past. Whereas, LINK price set a record of an all-time high. Meanwhile, the trading volume of $1,897,055,785 in the last 24-hour time-frame represents a decrease in the value of 33.78%. The LINK/ETH pair is in a downtrend with a value of (0.017250) that is down by 2.18% in Monday’s trading session.
Chainlink Technical Chart Indicates a Negative Momentum
The technical graph of Chainlink highlights a negative trend. Meanwhile, Chainlink price is at $32.64. In accordance with pivot points, the critical support level for LINK is placed at $29.30. Whereas if it goes up, the important resistance levels to observe is $36.85. While diving into the weekly graph of 4-hour time-frame, it completes a bearish engulfing candlestick pattern, suggesting the bears have overwhelmed the bulls and are now in control.
Volume index with the sum (365.557K) reveals a selling volume . Investors may further anticipate an increase in selling quantity in future trading sessions.
SMA-200, price is currently at $26.52, which acts as another dependable support from the coin. The cost is over the SMA, and investors can expect a bullish trend in the coin.
MACD index (BEARISH), bearish crossover over signal line seen on February 22, 2021, suggested a sell signal in the coin throughout the trading session. It denotes the beginning of red bars on Histogram.
RSI index (BEARISH) using a value of 42.60 indicates a sell signal in the coin. One can observe a shrink in value in upcoming trading sessions.
Chainlink price is down by 5% on Monday’s trading session. The price is above the SMA of $26.52, furthermore the movement of price may slip towards the support level of $29.30. All technical indicators recommend a sell signal in the coin.