- LINK/USD traded in a strong bearish trend towards the closure of yesterday’s price analysis chart.
- The bulls seem persistent to set a new high on the 24-hour chart.
- The Bollinger bands have started to widen, signaling high volatility.
LINK/USD traded in a strong bearish trend towards the closure of yesterday’s price analysis chart. However, the dangerous trend was cut short by bulls as soon as the daily trading chart began.
It began sending the prices to highs of $25.3, where it faced strong resistance from the angry bears, causing a sharp decline to an intraday low of $24.7.
The bulls came in with substantial energy to divert the negative trend. Bulls took control of the market, making the coin price trade-in head and shoulder trend. The Choppiness Index (CHOP) is at forty and it is moving towards the 100, meaning that the market is trading in strong sideways movements.
According to our Chainlink price analysis, LINK/USD traded within a daily range of $24.7 – $25.5. This close-range suggests low volatility across the daily chart. Chainlink’s trading volume faced a 49,2 percent increment to a total of $1 billion. The total market capitalization stands at $11 billion after a 1 percent surge in the last 24 hours. Chainlink is ranked #15 in the overall market.
On the 4-hour Chainlink price analysis, LINK/USD is trading upwards as bulls attempt to cross into the $25 price zone once again. Bulls have their eyes focused on the $26 psychological barrier and are working against time to build momentum and get there soon. The bulls seem persistent to set a new high on the 24-hour chart, However pressure from the buyers seems to be so huge to overcome.
LINK/USD had a good start to the week after it recorded a slight percentage increase on Monday, while many digital assets recorded massive drops.
In the last one hour, LINK/USD has been trading in a head and shoulder trend. The green candlesticks also seem to have outnumbered the green ones indicating a bullish market.
The Bollinger bands have started to widen, signaling high volatility. The price is leaning on the walls of the lower band, which is the oversold region suggesting that sellers are more potent than the buyer, and there might be a possible price dip.
Most of the technical indicators are promising a bullish market in the next few hours. The bulls seem to have gone to the drawing board to prepare to surpass the intraday high of $25.5. If the bulls surpass the intraday day high, their next will be at $30.
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