CHAINLINK – ALTCOIN CHART ANALYSIS

Chainlink (LINK) has recently been swimming against the tide. Here we have already formed a small uptrend for a few weeks, which has been tested again and again as support.

We are currently trading at around USD 7.50 and saw a retest of our small support box yesterday. At the moment we are still fighting for the monthly resistance P so that we can hold it as support.

We don't have any divergences in the RSI. However, the trading volume has recently increased somewhat, which supports the countermovement to the upside.

On the daily chart we have two uptrends. A short-term one that has been forming since early September and a longer-term one that has been forming in early June.

As long as we can hold this and make more higher highs, we could start another run into the $8.50 region. There lies the last wick, which was formed with a lot of volume.

We should also close above this for several days, otherwise we see a turnaround to the downside. Here, the $7.10 and $6.50 area remains interesting. These need to be held to continue confirming the uptrend.

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