Chainlink has recorded, in the past seven days, a fall of approximately 14 %. However, the short -term recovery led to a 5 % increase of 24 %.
Currently, ChainLink is trading $ 15.53 with a maximum market of $ 9.91 billion. As the 11 largest encrypted currencies on the market and one of the best Defi symbols, is ChainLink relate to a quick shift?
ChainLink Prices analysis: Will the bears control?
According to the weekly graph, the recent recovery in Chainlink in late December reached 50 % at $ 28.60. The recovery has made the climb up high at $ 38.94.
However, the bullish trend failed to keep the momentum and quickly decreased to a lower 38.20 % Fibonacci level at $ 23.00. With slight unification, the wider market decrease in the market decreased to $ 15.48.
With a 7 -day decrease registered at $ 14,021, short -term recovery reveals the basic support of Chainlink. In the weekly graph, the EMA line violated for 50 weeks and struggles for support near the EMA line for 100 weeks.
The main levels in the direction of the correlation price
The fall under the level of 23.60 % Fibonacci at $ 16.17. If the bull fails to pay the closing price above the Fibonacci level, it is possible that the collapse will challenge low support levels.
There is a level of immediate support for Chainlink in the EMA line for 100 weeks at $ 14.73, followed by the 200 -week EMA line at $ 12.67.
The fall of the weekly RSI line brought below the mid -road level. This indicates a possible transformation in the momentum, with a potential fall.
The analyst predicts the healing of the chainlink series
By supporting the ups of the bulls to restore the level of 23.60 %, Martinez highlights the possibility of possible reflection.
In his last tweet, analyst High TD Serial Series Signal Signal Signal on ChainLink. This comes on the daily chart, hinting at a short -term reflection gathering.
As with a 24 -hour recovery for more than 5 %, prolonged recovery is likely to help maintain dominance at the level of 23.60 % Vibonacci. With bullish recovery, the bullish trend can challenge the psychological level of $ 20, followed by a level of 38.20 % at $ 23.07.
