- Chainlink token over the monthly chart is trading on solid bullish momentum, whereas the coin recovery jumps above all vital moving averages.
- The coin is trading above all major moving averages of 20, 50, 100 and 200-day moving averages and is still rising.
- The pair of LINK/BTC is trading at 0.0006256 BTC with an intraday gain of +2.78%, and the ratio of LINK/ETH is CMP at 0.009324 ETH with a slight loss of -0.03% in the last 24-hours.
Over the monthly chart, the Chainlink token is trading on a bullish note, while the coin witnesses a good buying interest from lower levels. The crypto asset has been trading on a bearish note since the past few trading sessions. At the same time, the recent buying interest pushes the coin towards the higher levels.
Currently, the coin is trading above the all vital moving averages of 20, 50, 100 and 200-day, while the 20 & 50-DMA is heading closer for a positive crossover. Volume over the chart is average and is recorded near the average line. Support on the lower side is at $18.50 and $14.90, whereas resistance on the higher side is $26.49 and $32.85.
Chainlink token is trading under the rising channel pattern
Over the weekly chart, the Chainlink token is trading under the rising channel pattern with higher highs and lower lows. The coin over the chart is in upright bullish momentum after a significant downtrend in the past few trading sessions. The technical parameters indicate the upcoming positive momentum as the coin is heading higher after a sideways action. Presently, the Chainlink coin is trading at $24.33 with an intraday gain of +4.07%, and the volume to market cap ratio is at 0.1277.
Relative Strength Index (BULLISH): chainlink token RSI presently indicates a slightly positive or bullish trend over the weekly chart. In contrast, the RSI is heading higher after falling from the overbought zone and now CMP at 63.
Moving Average Convergence Divergence (BULLISH): This currently indicates a bullish or positive trend on the daily chart. The buyer’s signal line (blue) is heading towards the seller’s line (orange) to suppress it.
Support levels: $18.50 and $14.90
Resistance levels: $26.49 and $32.85.