#Chainlink in a $3 Range, Strong Liquidation Line at $7.6
Past Performance of Chainlink
Chainlink is in a broad range, trading inside a $3 range with recent highs posted in February. As the token picks up momentum in March, prices are still limited to the upside, trending below $8.2. It will require bulls to push above last week's consolidation and $7.6 for a new trend to emerge.
#Chainlink Technical Analysis
Chainlink prices are choppy, looking at the daily chart. While buyers are steady, soaking in selling pressure, a substantial, high volume must be close above the current consolidation. In the meantime, resistance is at $7.6, with immediate support at around $7. The leg up from mid-March may help drive prices higher. However, volumes have been decreasing, a concern for buyers. Even so, if there is a breakout, LINK may retest $8.2. Conversely, a dip below support may see the token contract to $6.6 and even $6 if sellers press on.
What to Expect From #LINK?
LINK prices have been held in tight ranges, mostly consolidating over the past few days. The expansion from December defines the current trend, and LINK must hold above $6 in the medium term for the uptrend to be valid. February highs present a critical resistance line.
Resistance level to watch out for: $7.6
Support level to watch out for: $7
Disclaimer: Opinions expressed are not investment advice. Do your research.
Chainlink is in a broad range, trading inside a $3 range with recent highs posted in February. As the token picks up momentum in March, prices are still limited to the upside, trending below $8.2. It will require bulls to push above last week's consolidation and $7.6 for a new trend to emerge.
#Chainlink Technical Analysis
Chainlink prices are choppy, looking at the daily chart. While buyers are steady, soaking in selling pressure, a substantial, high volume must be close above the current consolidation. In the meantime, resistance is at $7.6, with immediate support at around $7. The leg up from mid-March may help drive prices higher. However, volumes have been decreasing, a concern for buyers. Even so, if there is a breakout, LINK may retest $8.2. Conversely, a dip below support may see the token contract to $6.6 and even $6 if sellers press on.
What to Expect From #LINK?
LINK prices have been held in tight ranges, mostly consolidating over the past few days. The expansion from December defines the current trend, and LINK must hold above $6 in the medium term for the uptrend to be valid. February highs present a critical resistance line.
Resistance level to watch out for: $7.6
Support level to watch out for: $7
Disclaimer: Opinions expressed are not investment advice. Do your research.
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