Скачать или смотреть Chainlink LINK Nosedives 10% Here’s Why It Could Tumble Below $10

Chainlink (LINK) is down 10% and it broke the key $11.30 support zone against the US Dollar. The recent breakdown suggests high chances of more losses below $10.00 and $9.50. After a sharp decline, chainlink (LINK) found support near the $9.20 level against the US Dollar. The price started a decent recovery wave above the $11.00 and $12.00 levels, but it failed to clear the $13.50 resistance zone. It even remained well below the $14.00 pivot level and the 100 simple moving average (4-hours). Conversely, there were positive moves in bitcoin above $10,700 and Ethereum remained well bid above the $355 support. LINK is currently declining and it broke the 50% Fib retracement level of the upward move from the $9.20 low to $13.43 high. More importantly, there was a break below a major contracting triangle with support near $11.80 on the 4-hours chart of the LINK/USD pair. The pair is now trading below the key $11.30 support and the 100 simple moving average (4-hours). It is testing the 61.8% Fib retracement level of the upward move from the $9.20 low to $13.43 high. It seems like the bulls might struggle to protect losses and the price might decline further below $10.50. The next key support is near the $10.00 level, below which the bears are likely to aim a new monthly low below the $9.20 level. If chainlink’s price starts an upside correction, the price might face sellers near the $11.30 level (the recent breakdown zone and now a major hurdle). The main hurdle is near the $13.00 level and the 100 simple moving average (4-hours). A close above the $13.00 and $13.50 resistance levels is must to start a steady recovery wave in the near term. Technical Indicators4-hours MACD – The MACD for LINK/USD is now gaining pace in the bearish zone.4-hours RSI (Relative Strength Index) – The RSI for LINK/USD is well below the 35 level. Major Support Levels – $10.50, $10.00 and $9.20. Major Resistance Levels – $11.30, $13.00 and $13.50.


All data is taken from the source: https://www.newsbtc.com/
Article Link: https://www.newsbtc.com/2020/09/16/ch...


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