THELOGICALINDIAN - Chainlink LINK started a aciculate downside alteration from the 2024 aerial adjoin the US Dollar It is now trading aloft the 1500 abutment and eyeing a beginning billow aloft 1700
Chainlink (LINK) Showing Bullish Signs
After surging abutting to $20.00, chainlink (LINK) started a abundant downside alteration adjoin the US Dollar. LINK formed a new best aerial abreast $19.93 and beneath beneath the $18.00 abutment zone.
The amount bankrupt the key $17.00 abutment area to move into a concise bearish zone. There was additionally a breach beneath the 50% Fib retracement akin of the advancement move from the $12.19 beat low to $19.93 high.
However, the beasts were able to assure the $15.00 abutment area and the amount backward able-bodied aloft the 100 simple affective boilerplate (4-hours). It seems like the 61.8% Fib retracement akin of the advancement move from the $12.19 beat low to $19.93 aerial is acting as a able support.
The amount is currently trading accurately aloft the $15.50 and $16.00 levels. There is additionally a key bullish trend band basic with abutment abreast $15.40 on the 4-hours blueprint of the LINK/USD pair.
On the upside, LINK amount is adverse a aloft hurdle abreast the $16.95 and $17.00 levels. If there is an upside break aloft $17.00, the amount could analysis the abutting hurdle abreast $18.00 or a abutting bearish trend band basic with attrition abreast $18.30 on the aforementioned chart.
Dips Supported
On the downside, chainlink’s amount is acceptable to acquisition able bids abreast the trend band abutment and $15.00. The abutting above abutment is abreast the $14.00 akin and the 100 simple affective boilerplate (4-hours).
A downside breach beneath the $14.000 abutment akin could advance the amount into a bearish zone. In the declared case, the amount could dive appear $12.00 or alike $10.00.
Technical Indicators
4-hours MACD – The MACD for LINK/USD is about to move into the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is still able-bodied beneath the 50 level.
Major Support Levels – $16.00, $15.80 and $15.00.
Major Resistance Levels – $17.00, $18.00 and $18.30.
