Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Chainlink Forum => Topic started by: ExtraPoint on June 25, 2021, 06:55:48 AM
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Trade setup: Price is in a downtrend and momentum turned bearish. Traders could consider short sell any bounce to $20 level, with a target of $15 or less. (set a price alert).
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term). It is concerning that the price failed to make a Higher High during the past momentum upswing, which does not suggest that a trend reversal is in the works. Also, price broke below 200 day moving average (SMA).
Momentum is Bearish ( MACD Line is below MACD Signal Line, and RSI is below 45).
source (https://altfins.com/chainlink-link-analysis/)
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LINK/USD attempted to move towards the MA 50 ($37.52) after its latest recovery (from the $15 lows), which extended the price to highs of $35.36 on May 27 but fell short of the resistance structure at the MA 50. The LINK/USD pair seems to be presently imprisoned within the $25.36 and $37.52 structure which coincides with the MA 200 and 50 barrier levels.
The short-term oscillators reflect the easing in the positive momentum as the RSI still located in the bearish territory has turned down. If sellers manage to penetrate below the MA 200 at $25.36, support could come at $19.73 and $15. On the flip side, if the pair reverses, the resistance at the $35.36 level and the MA 50 at $37.52 could interrupt further gains.
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I don't understand the fundamentals of various cryptocurrencies because all I know is the price changes every time in cryptocurrencies, especially the technical analysis problem I don't really understand for the Chainlink coin type.
But at least I keep learning in this forum about Chainlink coin analysis because this chainlink has something good to invest and it is in the top coin ranks on Coinmarketcap.
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I refer to the MACD and see that the price of LINKUSD has ended wave 2 and is entering wave 3. The expected price of LINK in wave 3 is 130 USD.
ChainLink is the project that leads the oracle trend, so we can expect even higher prices, for example 210 USD for this bullrun.
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Bad news. Lending platform Compound Finance accidentally blocked lending and collateralization operations in Compound Ethereum (cETH) tokens, The Block reported. The site crashed due to an error in the code of the Chainlink oracle price channels, the data of which is used by Compound Finance. Due to a bug in the code, site clients cannot receive loans and withdraw funds in cETH tokens.