ChainLink (LINK) technical analysis:
Trade setup: Price broke back below $7 and 200-day moving average and appears to be trading in a Sideways Channel ($6-8). Swing traders could trade the channel: Enter near $6 support and exit near $8 resistance. Recent rally was driven by lanch of staking service.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $7.00, which it broke, then $6.00. The nearest Resistance Zone is $8.00, then $9.50 – $10.00.
Trade setup: Price broke back below $7 and 200-day moving average and appears to be trading in a Sideways Channel ($6-8). Swing traders could trade the channel: Enter near $6 support and exit near $8 resistance. Recent rally was driven by lanch of staking service.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $7.00, which it broke, then $6.00. The nearest Resistance Zone is $8.00, then $9.50 – $10.00.