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#link #hodl #moon

ChainLink (LINK) technical analysis:
Trade setup: Rejected at $35 resistance and broke below 200-day MA. Entered a Downtrend. Wait for a breakout from Channel Down Pattern. Needs to break back above 200-day MA to re-establish an Uptrend. (set a price alert).

Pattern: Price is trading in a Channel Down pattern. Traders typically wait for a breakout and initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.

Trend: Downtrend on Short- and Medium-Term basis and Neutral on Long-Term basis.

Momentum is Bearish ( MACD Line is below MACD Signal Line, and RSI is below 45).

OBV (On Balance Volume): is flat, indicating that volume on Up days is equal to volume on Down days. Hence, demand from buyers and supply from sellers are in equilibrium

Support and Resistance: Nearest Support Zone is $20, then $15. The nearest Resistance Zone is $25 (previous support), then $30.