- Chainlink performed a negative momentum on Monday’s trading session
- Chainlink price is $22.41, which is down by 2.23% in last 24 hour time-frame and 10.21% down from the previous week
- LINK/BTC pair is negative with a loss of 3.44% in Monday’s trading session (0.00065763)
Chainlink had negative momentum on the weekly chart, and it went up to $25.65 on January 25, 2021, while breaking above the resistance zones created in the past. LINK price set a mark of all-time high. Meanwhile the trading volume $2,509,566,519.24 in the last 24-hour time-frame represents a decreasing value of 14.47%. The LINK/ETH pair is in an uptrend with a value of (0.016909) which is down by 1.54% in Monday’s trading session.
Chainlink Technical Chart Indicates a Negative Momentum
The technical chart of Chainlink highlights a negative trend. While Chainlink price is at $22.41. According to pivot points, the key support level for LINK is placed at $20.77. If it moves up, the key resistance level to watch is $25.03. While diving into the weekly chart of 15-minute time frame, it completed a bearish engulfing candlestick pattern, indicating the bears have overwhelmed the bulls and are now in control.
Volume indicator with the value (188.815K) reflects a low buying volume in coin. One can further expect a decrease in buying volume in the upcoming trading sessions.
SMA-200, price is at $22.31, which acts as another strong support in the coin. The price is testing the SMA, and investors can expect a bearish trend in the coin if it breaches below the SMA.
MACD indicator (Bearish), no bullish crossover signal line spotted on February 01, 2021,, during the trading session it indicated a sell signal in the coin. Also, it denotes the red bars on Histogram.
Meanwhile, the RSI indicator (Bearish) with a value of 39.52 indicates a sell signal in the coin. One can observe an decrease in value in upcoming trading sessions.
Chainlink coin price is down by 2.23% on Monday’s trading session. The price tested the SMA of $22.31. Investors can see the price move towards the support level of $20.77. All technical indicators suggest a sell signal in the coin.
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