- The LINK token chart shows a bullish crossover of the 20-and-200-day EMA
- The LINK/BTC pair traded at 0.0049 BTC with a loss of 0.59%
- The 24 hr trading volume in LINK token is $829.9 Million
The LINK token chart suggested continuing its bull rally when the price bounced from the $21 mark with a double bottom pattern. On October 1st, the token price provided a strong breakout from the $25 neckline and 50 and 200 EMA together. However, the price is trying to retest this level and obtain proper support from it.
Concerning the EMAs, LINK toke price is trading above all the important EMA’s 20, 50 and 100, and 200, indicating the bullish trend for this coin. Moreover, the chart also shows a bullish crossover of the 20 and 200 EMA, attracting even more buyers in the coin market.
The RSI (BULLISH) value is 53, indicating a strong bullish emotion within the LINK token.
The LINK Token Price Wavering Above The $25 Mark
For more than a week, the LINK token price has been resonating between the $28 and $25 mark, creating a narrow range in its chart. This price fluctuation indicates the price is still trying to sustain above the $25 level. However, the traders should wait for the token price to break out from this range to confirm which side the rally would go properly.
The MACD indicator shows the MACD or signal line is still above the neutral zone indicating the bullish momentum is still intact. However, these lines are too close to the middle line and hold a good chance of jumping onto the other side if the token price drops any lower.
Conclusion: The overall trend in LINK token is bullish. And as mentioned, the price has bounced from the $21 level and shows a reasonable chance of price to continue its rise. Moreover, the Crypto traders can position their funds in this coin if the price could sustain the bullish pattern breakout.
Support: $25
Resistance: $30