Chainlink’s (LINK) Outlook Grows Bleak: Signals of Bearish Continuation Surface

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	460,138,793,146	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

460,138,793,146

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-73.06	-1.88%	3,818.55	3,818.75	3,818.76

Price Change

Price Change %

Current Price

Bid Price

Offer

-73.06

-1.88%

3,818.55

3,818.75

3,818.76

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,926.60	3,769.47	3,887.97	3,891.61	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,926.60

3,769.47

3,887.97

3,891.61

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:50:48	0.000042	3,819.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:50:48

0.000042

3,819.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
468,546,266.51	121,572.64	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

468,546,266.51

121,572.64

Chainlink’s (LINK) Outlook Grows Bleak: Signals of Bearish Continuation Surface

14/05/2024 7:58am

NEWSBTC

Chainlink’s LINK price is struggling to surpass the $13.80 resistance. The price could continue to move down if it breaks the $13.00 support. Chainlink price is showing bearish signs below the $14.00 resistance against the US dollar. The price is trading below the $13.60 level and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could start a decent increase if it clears the $13.80 resistance zone. Chainlink (LINK) Price Turns Red In the past few days, Chainlink saw a steady decline from well above the $13.80 level. LINK price declined below the $13.50 support level to enter a short-term bearish zone, like Bitcoin and Ethereum. The price tested the $13.10 support zone. A low was formed at $13.07 and the price recently attempted a recovery wave. There was a move above the $13.50 level. It even jumped above the 23.6% Fib retracement level of the downward move from the $14.30 swing high to the $13.07 low. However, the bears were active below the $13.80 resistance and the 50% Fib retracement level of the downward move from the $14.30 swing high to the $13.07 low. LINK price is still trading below the $13.80 level and the 100 simple moving average (4 hours). Immediate resistance is near the $13.50 level. There is also a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair. The next major resistance is near the $13.80 zone. A clear break above $13.80 may possibly start a steady increase toward the $14.00 level. The next major resistance is near the $14.35 level, above which the price could test $15.50. More Losses? If Chainlink’s price fails to climb above the $13.50 resistance level, there could be a fresh decline. Initial support on the downside is near the $13.10 level. The next major support is near the $12.80 level, below which the price might test the $12.20 level. Any more losses could lead LINK toward the $11.50 level in the near term. Technical Indicators 4 hours MACD – The MACD for LINK/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now below the 50 level. Major Support Levels – $13.10 and $12.80. Major Resistance Levels – $13.50 and $13.80.

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