- Chainlink token trying to sustain above all vital moving averages while building a bullish marubozu candlestick above 100 and 200-day lines.
- The crypto asset at the monthly jumps above all major moving averages of 20, 50, 100, and 200-day lines, with lower volume activity
- The pair of LINK/BTC is trading at 0.0005727 BTC with a minor intraday loss of -0.39%, and the ratio of LINK/ETH is CMP at 0.008311 ETH with a slight increment of +0.61% in the last 24-hours.
Chainlink token at the monthly time horizon is trading under a positive momentum after a long downtrend. The continuous buying interest or action from the lower levels continues, but the volume at the chart is still lower. Moreover, the sustainably above all vital moving averages with positive volume action will boost more buyers in upcoming trading sessions.
The crypto asset is now herding to retest its support of 100 and 200-DMA lines, which can re-enter for long trades. Volume over the chart is average and is recorded near the average line. Support on the lower side is at $22.20 and $16.65, whereas resistance on the higher side is $33.00 and $35.70.
Chainlink token is creating divergence with the price action
At the weekly chart, the chainlink token is creating divergence with the price action, indicating caution for long positions. Volume at the 4-hour time frame is lower and records near the average volume line, which is now flattened. Presently, the Chainlink coin is trading at $26.22 with an intraday loss of -1.70%, and the volume to market cap ratio is at 0.07995.
Relative Strength Index (NEUTRAL): chainlink token RSI presently indicates a slight caution trend over the weekly chart. In contrast, the RSI is heading lower from the overbought zone and now CMP at 50.
Moving Average Convergence Divergence (BEARISH): This currently indicates a bearish trend on the daily chart. The seller’s line (orange) overpowers the buyer’s signal line (blue).
Support levels: $22.20 and $16.65
Resistance levels: $33.00 and $35.70.