- LINK price plunged from $42.0 to $40.50 on Thursday’s trading session
- The 24-hour volume in LINK is at $3,690,279,984 with a 59.67% increase
- The LINK/BTC pair was trading at 0.0006465 BTC with a gain of 11.45%
The 4-hour technical chart of LINK price forecasts a positive trend. According to pivot points, LINK’s critical support level is placed at $32. Whereas if it moves up, the key target price to watch is $42. While diving into the weekly chart of a 4-hour time-frame, it completes a bullish engulfing candlestick pattern representing bulls are in control.
EMA- (8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) intersects above EMA-13,21 (green, yellow), which projects a positive trend. The price is sustaining above 55-EMA (red). Investors may perceive positive crossover in the EMA, and the price had followed the positive trend.
RSI indicator (OVERBOUGHT), with a value of 73.50, indicates an overbought situation in the coin. Moreover, Investors can see a downward slope from 78 to 73 in the index, and it may plunge in future trading sessions.
The volume of (1.99M) represents a vast selling volume which is above the Volume MA (1.34M) of 20-days. High selling pressure is maintained in LINK to drive its price to lower levels.
Chainlink (LINK) Price Buying Pressure Is Lost
LINK Price traded at $40.50 with a gain of 9% in the last 24-hour and 26.54% up in the weekly time-frame. Furthermore, LINK plunged from the resistance of $42. In contrast, the market capitalization stands at $17 billion. Technically, investors can perceive a positive crossover in the EMA for a short while, and the price is above all the EMA. RSI index showcases a downward slope. Moreover, the price movement can be towards the support of $32 in future trading sessions.
Resistance: $42
Support: $32