- The trading volume of the Chainlink token in the last 24hrs, at the time of writing this article, is +81%
- The price of LINK/BTC and LINK/ETH at the time of writing this article is 0.0004254 BTC and 0.006581 ETH, respectively
- The price is taking massive support on the 20MA
LONG TERM ANALYSIS:-
In the daily time interval, we can see that the price is near Resistance, and the 20MA is acting as a demand zone. Let’s have a look at the technical indicator to see if the price is able to break the Resistance or not. Firstly, we can see the MACD is showing green histograms as the MACD line is above the signal line, and there is no sight that the lines will change their direction.
In addition to that, we can see the RSI is in the neutral zone near 54, and the RSI line is pointing sideways, which means the bulls and bears are giving each other a good fight. Lastly, we can see the Moving average as the 20MA and 50MA are above the 100MA, but the 20MA is below the 50MA, and 20MA is acting as a demand zone in favor of bulls.
SHORT TERM ANALYSIS:-
In the 4hr time interval, we can see the 50MA is crossing the 100MA, which is a buy sign for the bulls. Having said that, the MACD is showing green histograms. The MACD line is above the signal line, and there is no sight that the lines will change their direction. In addition to that, the RSI is in the neutral zone near the 62, and the line is pointing towards the oversold zone of 30, meaning the bears are winning the fight against the bulls.
Lastly, we can see the Moving average as both the 20MA and 50MA are below the 100MA, and the 20MA is changing its direction and heading towards 100MA, a bullish sign.
CONCLUSION:-
Looking at both the long term and short term, we can see the price is bullish and will remain bullish. The bears are trying to bring the price down a little, but then again, bulls will push the price back up, which can be a higher high. So the trend is bullish as of now. The bulls are pushing the price up. Thanks to bitcoin.
RESISTANCE:-$29.88,$33.51
SUPPORT:- $25.68,$22.82