LINK/USDT
The bulls have propelled Chainlink (LINK) above the $36.93 overhead resistance today, indicating the resumption of the uptrend. If the bulls can sustain the price above $36.93, the altcoin could continue its march toward $50.
The 20-day EMA ($32) has turned up and the RSI has risen above 65, suggesting the bulls are back in the driver’s seat.
However, if the bulls fail to sustain the price above the $36.93 level, then it will indicate aggressive selling by the bears at higher levels. That could result in a drop to the 20-day EMA. A strong rebound off this level will suggest the sentiment remains positive.
Conversely, if the bears sink the LINK/USDT pair below the 20-day EMA, it will suggest that the current breakout was a bull trap.
The bulls have propelled Chainlink (LINK) above the $36.93 overhead resistance today, indicating the resumption of the uptrend. If the bulls can sustain the price above $36.93, the altcoin could continue its march toward $50.
The 20-day EMA ($32) has turned up and the RSI has risen above 65, suggesting the bulls are back in the driver’s seat.
However, if the bulls fail to sustain the price above the $36.93 level, then it will indicate aggressive selling by the bears at higher levels. That could result in a drop to the 20-day EMA. A strong rebound off this level will suggest the sentiment remains positive.
Conversely, if the bears sink the LINK/USDT pair below the 20-day EMA, it will suggest that the current breakout was a bull trap.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.