LINK/USD Slides Below $15 Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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Chainlink Price Analysis – February 25
The Chainlink price is trading downwards, just like any other altcoins in the crypto market.
LINK/USD Market
Key Levels:
Resistance levels: $20, $22, $24
Support levels: $8, $6, $4
LINK/USD is back in the middle of consolidation as the coin drops below the 9-day and 21-day moving averages today. The Chainlink price is now roaming around the $13.2 level. However, if the market continues the down-surge and squeeze, the $10 support is likely to surface in the next few negative moves. More so, LINK/USD pair might further look for lower price levels if the bears continue to show commitment.
Chainlink Price Analysis: Would LINK Price Gain More Lows?
The Chainlink price is currently trading below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) remains to move below 40-level. Meanwhile, taking a look at the daily chart, traders can see the trading volume is becoming low and the coin may likely create a new low before crossing above the channel.
Therefore, if LINK/USD pair continues to stay under the control of bears, the price may reach the support levels of $8, $6, and $4. On the upside, if the bulls step back and push the coin above the 9-day and 21-day moving averages, traders can expect the potential resistance levels at $20, $22, and $24.
LINK/BTC Market: Price May Head Downwards
Looking at the daily chart, LINK/BTC is likely to cross below the lower boundary of the channel. The price is forming a downward trend on the daily chart as bulls could not make an attempt to push the coin back higher. However, the LINK price is likely to create an uptrend if the bulls take the coin above the moving averages. Therefore, any further bullish movement could take the coin to the resistance level of 4400 SAT and above.
However, looking at the current technical indicator Relative Strength Index (14) on the daily chart, it appears that bears are coming into focus if the signal line moves into the oversold region. Meanwhile, if the LINK price crosses below the lower boundary of the channel, it could hit the support level of 2600 SAT and below.
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