- Chainlink coin over the monthly chart is trading on a bullish note while gaining good momentum from the lower levels.
- The crypto asset over the monthly chart is trading above all short-term moving averages of 20, 50, and 100-day, while 200-DMA is still acting as a minor hurdle.
- The pair of LINK/BTC is trading at 0.0005475 BTC with an intraday gain of +3.86%, and the ratio of LINK/ETH is CMP at 0.008809 ETH with a slight loss of -1.23%
Over the monthly chart, chainlink coin is trying to recover from the lower levels, with positive volume action. After a sharp continuous downtrend, the crypto asset is now witnessing a good buying interest from the lower level. At the same time, the crypto asset jumps above the short-term moving averages of 20, 50, and 100-Day, while 200-DMA is acting as a minor hurdle.
Volume activity over the chart is normal and trading near the average volume line. While once the closing of day candles above 20-DMA with positive volume action will push more buyers in upcoming trading sessions. Support on the lower side is at $16.20 and $13.50, whereas resistance on the higher side is $26.49 and $32.85.
Chainlink coin is trading on a bullish note under the rising channel pattern
Over the weekly chat, Chainlink coin is trading on a bullish note under the rising channel pattern, with lower lows and higher highs. In contrast, the volume over the chart is higher and jumps above the average line. The technical parameters are now reaching the overbought zone, and now a short-term pullback is expected. Presently, the Chainlink coin is trading at $22.83 with an intraday gain of +8.31%, and the volume to market cap ratio is at 0.1291.
Relative Strength Index (NEUTRAL): Cardano coin RSI presently indicates a sideways or flat trend over the weekly chart. In contrast, the RSI is trading flat after testing the overbought zone and now CMP 65.
Moving Average Convergence Divergence (NEUTRAL): This currently indicates a neutral or cautious trend on the daily chart. This is because the buyer’s signal line (orange) overlaps the seller’s line (blue) with no sign of clear momentum.
Support levels: $16.20 and $13.50
Resistance levels: $26.49 and $32.85.