- The chainlink marked a high by increased of 1.23 of previous day high and with the trading volume fall of 17.26%.
- RSI shows a neutral action with a value of 53.6 in the last 4 hours.
- Chainlink with BTC and ETH shows the fall in percentage by 5.95.
Chainlink is considered to be one of the safest and secured networks among crypto markets as it allows for contract on Ethereum networks and so LINK has the holdings of 543,793 and has the top 10, 50 and 100 holders with the holdings of more than 50%.
The current price for the coin is 24.60 and is now running above 0.02 of it’s previous day close. The chart-1 is shown below that describes the LINK about its previous days running. SMA-20 had run below the level of SMA-50 and this period by far was quite suitable to long the coin. From 8-12 June this period was there. Well from 14 june the trend has slightly shifted upwards and bull power is visible now. Those who have bought the coin in those days must have started to see their profits.
RSI for the last 24 hours is 43.93 shows the neutral action and the time for buy has gone now. More preferably the holders would sell now. In the 4 hours chart pattern we also see that SMA-200 is above SMA-20. If SMA-20 reaches SMA-200 then serious profits would be visible. However this could be a tough chase for the SMA-20 but once it would attain that level we could see an outbreak. Chart-2 shows the prediction of Chainlink. The trend has been up now as the bulls have started to win now and the SMA-20 have also just started running above the SMA-50 and this could also turn the things into profit.
Chart-1
The above chart shows the 4 hours pattern of LINK where the indicators used are RSI and SMA’s.
Chart-2
The above chart shows the coming trend for LINK and it is expected that the coin would increase now as the indicator of MA-20 is running above SMA-50 and even the RSI is running just below the 70 level showing the SELL action as of now.
Conclusion: The coin has not been in a place to buy now. Those who wish to do short term trade with this coin can sell now and if not want to then hold on with it as profits would be sure in the long term. Well if you want to buy the coin then wait for sometime and let the coin fall to the level of 21(Expected).
Technical Instruments:
Pivot: 24.38
R-1: 24.40
R-2: 24.42
S-1: 24.36
S-2: 24.34
(Note- The unit is USD)