Chainlink Bears Show Strength, But $16 Support Could Flip The Downtrend
In his latest Chainlink daily technical outlook, CryptoWzrd noted that the token closed bearish, retesting the $16.00 daily support level. He mentioned plans to monitor its intraday chart closely for potential quick scalp opportunities, particularly if LINK holds above $16.80, which he views as a positive zone. A Possible Shift In Chainlink’s Current Bearish Action Moving on, CryptoWzrd pointed out that both Chainlink and LINKBTC closed the day with bearish candles, signaling short-term weakness. The downside move came after a period of consolidation, suggesting that traders may be taking....
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Ethereum and the entire crypto market has faced some weakness throughout the past couple of days Although both BTC and ETH are trading well above their recent lows, it is important to note that bears are in the process of reversing yesterday evening’s gains This downtrend could prove to be bearish for ETH, as the crypto has been unable to flip a key resistance level into support This comes as it ventures into what one […]
Chainlink recently saw a record-breaking rebound, closing an intraday rally with more than 30% gains on the day. The recovery kept climbing but has since turned around at the top of a downtrend channel that thus far has been holding. Will the downtrend take the cryptocurrency lower? And what other factors back up any theories […]
After showing so much strength as the price rallied to $52, cracking up an all-time high, the price of Chainlink (LINK) saw a decline to its present value of $7 against tether (USDT). Despite the uncertainties about where the market would be headed, only a few have shown strength as Chainlink (LINK) remains in the spotlight. (Data from Binance) Related Reading: WATCH: Bitcoin Barely Holds Onto $20,000 Support | BTCUSD September 16, 2022 Chainlink (LINK) Token Price Analysis On The Weekly Chart LINK saw a decline in its price from its all-time high of $52 to around $6, with an over....
Chainlink is currently attempting to confirm $10.00 as a support level as it faces inflows of selling pressure that jeopardize its near-term outlook. Despite the present weakness it is facing, a confirmation of this level as support would be incredibly bullish, as it would mark a mid-term support-resistance flip that potentially kicks off the next […]
Chainlink (LINK) started a sharp decline after forming a head and shoulders pattern (as discussed in the previous analysis). The bears are gaining strength and aiming a test of $10.20. Chainlink token price started a fresh decline after it failed to clear the $12.50 resistance against the US dollar. The price is now trading below […]