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Chainlink is experiencing a bullish reversal
Chainlink Price Analysis –24 November
When the buyers push up prices above the resistance level of $8.1, LINK may increase to $9.4 and $10.8 resistance levels. In case there is a breakout at the support level of $6.4, the price may reduce toward the support levels of $5.6 and $3.5.
LINK/USD Market
Key Levels:
Resistance levels: $8.1, $9.4, $10.8
Support levels: $6.4, $5.6, $3.5
LINK/USD Long-term Trend: Bearish
Chainlink is bearish in the daily time frame. The ranging movement that took place a few weeks ago within $9.4 and $6.4 levels could not continue.in the Chainlink market. The sellers gathered more momentum to break down the support level of $6.4. The lower level of $5.6 was tested on 21 November. The seller lost momentum and could not break down the just-mentioned level. At the moment there is an increase which is a pullback to the coin.
chainlink is currently trading between the two EMAs. The 9-periods EMA is below the 21-period EMA. The technical indicator, Relative Strength Index period 14 is at 49 levels with the signal line pointing upwards which indicates a bullish movement. When the buyers push prices above the resistance level of $8.1, LINK may increase to $9.4 and $10.8 resistance levels.
In case there is a breakout at the support level of $6.4, the price may reduce toward the support levels of $5.6 and $3.5.
LINK/USD Medium-term Trend: Bullish
Chainlink is bullish on the 4-hour chart. The support level of $5.6 withstands the pressure of the sellers in the Chainlink market. The price is increasing and breaks up the former resistance level of $6.4, Chainlink is heading towards the $8.1 resistance level.
The Chainlink price is above 9-periods EMA and 21-period EMA. The indicator, Relative Strength Index period 14 confirms that the market is moving up as the signal line point upside at 64 levels. LINK is commencing a bullish movement while Dash 2 Trade and IMPT are already at the top going higher.
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