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ChainLink Price Analysis: LINK/USD falls below $7.50 level

  • LINK/USD bears dominated this Monday.
  • Bearish price action forced the RSI to drop below the overbought zone.
  • MACD is looking to reverse market momentum from bullish to bearish.
ChainLink Price Analysis: LINK/USD falls below $7.50 level
Rajarshi MitraRajarshi MitraIndependent Analyst

LINK/USD daily chart

LINK/USD daily chart

LINK/USD crashed from $8.065 to $7.487 as the bears dominated this Monday. The price has dropped below the upward trending line and the RSI has fallen from the overbought zone. The MACD line is about to cross over the signal line, indicating that the market momentum is going to reverse from bullish to bearish.

Support and Resistance

LINK/USD has strong resistance levels at $8.06 and $8.625. On the downside, we have good support at $7.40 and $6.45.
 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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