Rajarshi Mitra
Independent Analyst
- LINK/USD is currently consolidating below $15.
- The MACD shows increasing bearish momentum.
LINK/USD daily chart
LINK/USD bulls made a comeback following three consecutive bearish days. The price has gone up from $14.27 to $14.53 as it trends in the lower half of the 20-day Bollinger Band. The MACD shows increasing bearish momentum. The chart shows three strong resistance levels at $15.40 (SMA 20), $17.20 and $19.05. On the downside, we have three healthy support levels at $13.75, $12.89 and $10.80 (SMA 50).
An Altcoin trader who goes by the name “Crypto Krillin” has predicted that the price of Chainlink (LINK) will fall further and consolidate before the next move up. LINK spiked from under $2 to about $20 at the beginning of 2020. However, after that, the coin fell to as low as $13 before reaching its current price of about $15.
For those who are planning to make some gains from LINK in the next upward move, Crypto Krillin said:
$LINK
— Crypto Krillin ॐ (@LSDinmycoffee) August 23, 2020
update: yep was not the place to long, so far following the break down squiggly pretty well, ~$13 double bottom on 4h could be an interesting entry. pic.twitter.com/afM1o6nPDk
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
IRS says crypto staking should be taxed in response to lawsuit
The IRS stated that rewards from cryptocurrency staking are taxable upon receipt, according to a Bloomberg report on Monday, which stated the agency rejected a legal argument that sought to delay taxation until such rewards are sold or exchanged.
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode
Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.
Ethereum Price Forecast: ETH risks a decline to $3,000 as investors realize increased profits and losses
Ethereum is up 4% on Monday despite increased selling pressure across long-term and short-term holders in the past two days. If whales fail to maintain their recent buy-the-dip attitude, ETH risks a decline below $3,000.
Crypto Today: BTC hits new Trump-era low as Chainlink, HBAR and AAVE lead market recovery
The global cryptocurrency market cap shrank by $500 billion after the Federal Reserve's hawkish statements on December 17. Amid the market crash, Bitcoin price declined 7.2% last week, recording its first weekly timeframe loss since Donald Trump’s re-election.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.