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Chainlink Price Already In Bullish Hands, Facing $9.4 Levels

Chainlink may continue to trend upwards

Chainlink Price Analysis – August 14th

The seller faces a psychological support level of $8.8 and aims to reach the potential support levels of $8.1 and $7.5. At the top of the chart, Chainlink may face resistance levels at $9.4, $10.0 and $10.6 after holding the support level at $8.8.

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Link/USD Market

Main levels:

Resistance Levels: $9.4, $10.0, $10.6

Support levels: $8.8, $8.1, $7.5

NEO/USD Long-Term Trend: Bullish

Since the beginning of August, Chainlink has been rallying daily, and has seen a large percentage gain in its rally against the dollar. The coin has found support at $6.0. A bullish candle pattern called the “Bullish Engulfing Candle” emerged on his August 5th. The price started to move up towards the $9.4 resistance level, but the price is now observing a pullback.

However, looking technically at the daily chart, LINK/USD is already in bearish hands. The Technical Indicators Relative Strength Index period 14 supports a bearish move and could lead to a pullback as the signal line turns downwards at the 64 level. Nonetheless, the seller is facing his $8.8 psychological support level and aims to reach the potential support levels of He $8.1 and He $7.5. At the top of the chart, the coin may face resistance levels at $9.4, $10.0 and $10.6 if the $8.8 support level holds.

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NEO/USD Mid-Term Trend: Bullish

Considering LINK on the 4-hour chart, the price is bullish. Price reductions have been denied at support level $6.0. The price appeared to be above the 9 and 21 period EMAs as a sign of increasing bullish momentum. On the other hand, the market could continue to experience an uptrend if the price breaks out of the $9.4 resistance level.

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If the Chainlink price can break below $8.8, the coin could move towards the $8.1 support. Indicator RSI period 14 confirms that the market is going down as a sell signal sign.

Chainlink Price Already In Bullish Hands, Facing $9.4 Levels

Source link Chainlink Price Already In Bullish Hands, Facing $9.4 Levels

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