Chainlink Price Analysis (LINK/USD)

Yesterday decline continues today as the market of LINK/USD pair records a down surge.  LINK seemed to have succumbed to the selling pressure that has formed a strong bearish trend line over the last 24hrs.  The downside move began the session trading at $2.2455, where it later escalated to $2.1496 that translates to a dip of 2.8% over the intraday.

The market fluctuated dip down yesterday that brought the market to trade on the oversold zone before slightly gaining momentum to trade horizontally below $2.2423 resistance level.  In addition, the support level was found near $2.1496.

Most technical indicators pointed at a bearish outlook, the 21 day MA gravitated above the 7 day MA over the last 24hrs.  The parabolic SAR was also seen above the price that confirmed a downtrend thus indicated a sell signal.

chainlink price chart 8/22/19

Chainlink Price Prediction (LINK/USD)

The RSI indicator has maintained its position below level 50 that indicates intense selling pressure.  A break below $2.1000 may signal a downward…

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