LINK: Descending Triangle Breakout
ChainLink (LINK) technical analysis:
Trade setup: Bullish breakout from Descending Triangle. Upside potential up to $7.00 resistance zone (also 200-day moving average). Recent rally was driven by launch of staking service.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
Support and Resistance: Nearest Support Zone is $5.50. The nearest Resistance Zone is $6.00 (previous support), then $7.00, and $8.00.
Trade setup: Bullish breakout from Descending Triangle. Upside potential up to $7.00 resistance zone (also 200-day moving average). Recent rally was driven by launch of staking service.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish).
Support and Resistance: Nearest Support Zone is $5.50. The nearest Resistance Zone is $6.00 (previous support), then $7.00, and $8.00.
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