Chain Link is retracing - Short ($1.73)
Fundamental Reason
The last days all of the altcoins pumped and now is time for a quick retracement.
BTC.D gain started to grow and take a higher percentage of dominance over the market. ETH needs to have a retracement after it's rising, most likely the alts will follow it and retrace to the previous supports.
Technical Reason
At the moment
LINKUSD has formed a potential Head and Shoulder pattern. The target is the same as 200-Candles Exponential Movin Average (around $1.73). The trend broke a diagonal support line that makes the price upward movement weaker and places a resistance above it. Link tried to make higher high two times and got rejected. The momentum gets weaker Technically the price has to retrace so that support to be found.
Good Luck!
Support - $1.73
The last days all of the altcoins pumped and now is time for a quick retracement.
BTC.D gain started to grow and take a higher percentage of dominance over the market. ETH needs to have a retracement after it's rising, most likely the alts will follow it and retrace to the previous supports. Technical Reason
At the moment
LINKUSD has formed a potential Head and Shoulder pattern. The target is the same as 200-Candles Exponential Movin Average (around $1.73). The trend broke a diagonal support line that makes the price upward movement weaker and places a resistance above it. Link tried to make higher high two times and got rejected. The momentum gets weaker Technically the price has to retrace so that support to be found. Good Luck!
Support - $1.73
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