- Chainlink coin price performs in a positive momentum this week
- Chainlink coin price trades at $21.75, which is up by 1.27% since last 24 hours and 52.82% up from the previous week
- LINK/BTC pair negative with a loss of -1.75% in Tuesday’s trading session (0.00059093)
Chainlink coin price was in positive momentum on the weekly chart and went up to $23.61 on January 17, 2021. By breaking above the resistance zones created in the past, it formed an all-time high with the help of overall market conditions. The LINK/BTC pair is in a downtrend with a value of -1.75% in Tuesday’s trading session (0.00059093).
Chainlink Technical Charts Reflect Bullish Behaviour
The daily technical chart of Chainlink coin price highlights a positive trend with the help of overall market conditions on Tuesday’s trading session. The price is currently sitting at $21.75, with a resistance zone of $24.60, following the support zone of $14.80. On diving into the weekly chart of a 1-hour time frame, it formed a dark cloud cover candlestick pattern. Indicating a sell signal in the coin.
If we look at 20 & 50 days, the exponential moving average (EMA), 20 EMA (blue line) is at $17.42, and 50 EMA (purple line) is $15.08. The price is above both the EMA, one can expect a bullish trend in the coin for the next few trading sessions.
The Volume indicator of value (2.758M) reflects a moderate selling volume in the coin due to the overall market condition. We can further see an increase in volume in upcoming trading sessions.
MACD indicator (Bullish) one cannot observe any bearish crossover on the signal line on January 19, 2021, during the trading session. This indicates a buy signal in the coin and observes massive green bars in the Histogram.
Meanwhile, the RSI indicator (Bullish) with a value of 65 indicates a buy signal in the coin. It may soon move towards the overbought territory in today’s trading sessions if further buying continues.
Chainlink coin price is up by 1.27% on Tuesday’s trading session. The price is above 20 and 50 days EMA, and it can move towards the resistance level of $24.60. If it sustains above the resistance, one can further expect a continued bullish trend in the coin.
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