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CHAINLINK – ALTCOIN CHART ANALYSIS

 


Chainlink (LINK) remains in an overall uptrend. The trading volume has recently lost some of its momentum, but we are still trading at a high level.


Right now we are around $7.50 and we have taken the last inefficiency out of the market. Since then we've been struggling somewhat with the 4H-EMA Ribbons as resistance.


At the same time, there is still the 200 SMA (last 200 moving averages/purple) and the 200 EMA. We have to break through this to the top as soon as possible, otherwise we could fall back into the area around USD 7.25.

The formation of an ascending triangle is becoming more likely on the daily chart. Accordingly, we still have up to around USD 7 to test the uptrend.


At the top, the resistances are around USD 8.50. If we stabilize here, we could slowly but surely approach the USD 10 mark.


That's where our horizontal resistance box lies. This would then also mean a possible breakout from the chart pattern. Until then, LINK's chart development looks very healthy and stable.

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