- Chainlink crypto price bounce back from the support of $20 and shows strength on intraday
- LINK/BTC pair is trading negative by 1.40% at 0.0007696 BTC
- The 24-hour trading volume in Chainlink is 2.07 billion
The Daily technical chart of Chainlink crypto projects solid testing at $27.40. Suppose the price brokes above it may move up to $31 on an intraday session. According to pivot points, LINK’s critical support level is $21.50. Whereas if it moves upside, the crucial resistance to watch is $31. Besides, the chart also features a Doji candle showing neutral momentum in the coin’s price.
The Moving Average (MA) Exponential Ribbon consists of 8-EMA, ranging from EMA 20-55, which acts as solid support in the asset price action. Investors may observe the ribbon has flipped over to the negative direction and is getting stretched. The price is below the ribbon, so until the price remains below the ribbon, it will ensure LINK’sLINK’s bearish trend.
The CCI (Bearish) with the value of -37 indicates a sell signal in the coin, and the line went up from -80 to -37 on the intraday session considered to be under the bear’s grip. It may surge in upcoming trading sessions.
The volume of (4.71M) showcases below the Volume MA (14.27M) of 20-days. Chainlink requires buying pressure to drive its price level to an excessive region. Investors may also observe inclining volume bars in the chart, indicating a big move is expected soon.
Chainlink (LINK) Crypto Requires Buying Pressure
Chainlink’s crypto price was trading at $25 80 with a loss of 1.66% daily and 2.29% negative returns in the weekly period. Technically, the price shows strength and is trying to break above the resistance of $27.40. Furthermore, the price resides below the EMA Ribbon, which will assure Chainlink’s downtrend. Besides, the CCI line is also in a bearish zone, but with the support of buying pressure, the price may hit the resistance level of $31 in a future trading session, giving returns up to 25% to the investors in a future trading session.