Chainlink Price Analysis: Breaking Down

2019-12-16 17:40

Chainlink has a bearish short-term and medium-term trading outlook The four-hour time frame shows that a bearish head and shoulders pattern has formed The daily time frame continues to show the price trapped within a wedge pattern

 

Chainlink is under increasing downside pressure, with the popular cryptocurrency on the cusp of a short-term bearish breakout towards the $1.70 support level.

The LINK/USD pair has been drifting lower since mid-November, following a downside range breakout and continued pressure from the overall negative crypto market trend.

The four-hour time frame shows that a head and shoulders pattern has taken shape, with its overall downside target located around the $1.70 level.

A break under the $2.00 support should increase technical selling towards the LINK/USD pair, placing the $1.70 level firmly in focus for short-term sellers.

The daily time frame shows that a wedge pattern has been developing over the last few weeks. The price is currently testing its lower end.

The lower time frames and overall bearish trend indicate that the wedge breakout is likely to be to the downside. Watch out for this scenario to occur if the $2.00 level is breached with conviction.

Buyers need to rally price above the $2.30 level to change the overall trend in the LINK/USD. This is still very achievable if a broader market rally or positive fundamental news surrounding Chainlink arises.

The Relative Strength Index on the daily and time frame is bearish and still shows considerable downside potential before becoming oversold.

 

LINK/USD H4 Chart by TradingView Upside Potential

The four-hour time frame shows that key technical resistance is now located at the $2.10 and $2.30 levels.

Key technical resistance over the medium-term is located at the $2.48 and $3.00 levels.

 

LINK/USD Daily Chart by TradingView Downside Potential

The four-hour time frame is showing that the LINK/USD pair has strong medium-term technical support around the $2.00 and $1.70 levels.

Summary

Technical analysis suggests that the LINK/USD pair could be preparing to test towards the $1.70.

Watch for a breakout under the $2.00 level for confirmation of the impending bearish move.

 

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The post Chainlink Price Analysis: Breaking Down appeared first on Crypto Briefing.

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chainlink bearish price frame pattern time breaking

Источник: cryptobriefing.com

chainlink bearish → Результатов: 21


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2019-11-20 17:42


Zilliqa Price Analysis ZIL / USD: Riding On Chainlink

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2019-7-31 16:42


Chainlink Price Analysis LINK / USD: Bears Leading The Way

Chainlink has a bearish short-term bias, with the LINK / USD pair falling below critical technical support on the four-hour time frame The four-hour time is now showing that a bearish breakout from a wedge pattern is currently underway The daily time frame is showing that the LINK / USD has fallen below its key […] The post Chainlink Price Analysis LINK / USD: Bears Leading The Way appeared first on Crypto Briefing.

2019-7-30 16:35


ChainLink (LINK) Price Prediction 2019 – This Could be The Year of The Oracle (Late April Update)

April Update: Technicals LINKBTC daily chart doesn’t bode well for Chainlink. The price action is bearish and it appears Link is heading to the December/January support zone at 7647 sats. It has fallen through the weekly, long-lasting uptrend line (black line on the chart) which is a further confirmation of a intermediate bear trend for […] The post ChainLink (LINK) Price Prediction 2019 – This Could be The Year of The Oracle (Late April Update) appeared first on CaptainAltcoin.

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Bearish Price Action From BitTorrent and Chainlink [Price Analysis]

BitTorrent Analysis It is typically considered an extremely bearish sign when an asset fails to increase despite the market for the asset class recording significant price increases. This has been the case in both BitTorrent and Chainlink which have been failing to record strong price performances despite the cryptocurrency market recording its strongest price action […] Bearish Price Action From BitTorrent and Chainlink [Price Analysis] was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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