Currency Economy

Chainlink Bullish indications

Cryptocurrency (Mar 07, 2021 10:30AM ET)

Chainlink Bullish indications

In the above chart diagram, we are looking at the Monthly, Weekly, and Daily charts of LINKUSD. Overall I am more bullish on this cryptocurrency, but I need to see a strong breakout with a close above 30 to confirm.

In the monthly chart to the left we can see at least so far a lower high and a pullback from February’s highs.

In the weekly chart in the middle we can see the strong support levels at 25 and the resistance at 35. We can also see that last week’s candle, price came down and tested 13 support before rebounding nicely to close back to 25 support.

In the daily chart to the right, we can see how that break above 30 will confirm a nice long setup for a potential next leg up.

It will be important to break out of this flag pattern and continue to hold strong support at 25.

If the price goes the other way and breaks 25 then 24 is the next support level.

To sum up, it looks more bullish but we need to wait for confirmation.

Continue reading on DailyCoinChainlink Bullish indications 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s