- Chainlink price is currently dropped below all its vital moving averages, however trying to sustain above its rising trend line.
- The crypto asset over the monthly chart is trading below all vital moving averages of 20, 50, 100, and 200-day lines, with lower volume action.
- The pair of LINK/BTC is trading at 0.0005583 BTC with a minor 24-hour loss of -0.25%, and the ratio of LINK/ETH is CMP at 0.008064 ETH with an intraday gain of +0.04%.
Chainlink price at the monthly chart is trading near its crucial rising support line while also face a slight gain from lower levels. Currently, the digital asset is trading below its all vital moving averages of 20, 50, 100, and 200-day lines. However, the coin is presently respecting its rising support line over the medium-term time frame. Volume action at the monthly chart is lower and falls below its average volume line, which needs to improve enormously for sustainable growth. Bulls’ confidence increases when the crypto asset manages to regain its important moving average lines of 50, 100, and 200-day. The short to medium-term trend is still bearish and needs a more bullish rally to turn bullish. Support on the lower side is $21.45 and $20.49, whereas resistance on the higher side is $25.82 and $28.90.
Chainlink price is trading sideways after a strong bearish downtrend
Chainlink price at the weekly chart is trading under the sideways channel pattern after a strong bearish downtrend. Currently, it seems the bulls and bears are trying to make a clear trend, and the breakout of the range will indicate a clear direction. Volume activity at the 4-hour time frame is lower and needs to improve strongly. LINK token is trading at $23.50 with an intraday nominal growth of +0.39%, and the volume to market cap ratio is at 0.09825.
Relative Strength Index (NEUTRAL): Chainlink price RSI is trading sideways after gradually recovering from the lower levels. The coin is currently trading flat under the neutral zone with flat momentum and CMP at 50.
Moving Average Convergence Divergence (MIXED): The daily chart indicates a mixed or neutral trend at the 4-hour time frame. At the same time, the seller’s line (red) overlaps the buyer’s signal line (green), with no clear momentum.
Support levels: $21.45 and $20.49
Resistance levels: $25.82 and $28.90.