Chainlink hits a wall at new all-time highs and freefalls in search of support toward $12.00. LINK/USD remains in the hands of the bulls with short term support at $13.00 likely to send the price back to $14.50. Chainlink had been one of the most intriguing altcoins in the market over the last few weeks. In addition to acting in tandem with the generally bullish cryptocurrency market, LINK/USD went the extra mile to trade a new all-time high ($14.50). Although a reversal is underway from the all-time high, the drop is not rapid. Bulls are fighting tooth and nail to keep the price above $13.00 (short term support). LINK/USD is trading at $13.094 at the time of writing amid a growing bullish grip. Declines are expected to continue in the near term with the next support target at $12,000. Looking at the RSI, the path of least resistance is downwards. The indicator had printed an impressive rally to 90 but at the moment, it barely holds above 70. Another bearish signal is the Elliot Wave Oscillator as it prints the second bearish session in less than 24 hours. An ascending channel is in line to prevent losses towards $12.00. The main support is established at $12.00 while other key levels to keep in mind are the 50 SMA at $10.00 and the 100 SMA at $8.81. Support at $13.00, although weak and short term, could work as a stepping stone for gains above $14.00 and $15.00 respectively. LINK/USD price chart LINK/USD 4-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next WTI bounces from 10-day SMA on Saudi Aramco’s comments FX Street 2 years Chainlink hits a wall at new all-time highs and freefalls in search of support toward $12.00. LINK/USD remains in the hands of the bulls with short term support at $13.00 likely to send the price back to $14.50. Chainlink had been one of the most intriguing altcoins in the market over the last few weeks. In addition to acting in tandem with the generally bullish cryptocurrency market, LINK/USD went the extra mile to trade a new all-time high ($14.50). Although a reversal is underway from the all-time high, the drop is not rapid. Bulls are fighting tooth and nail to… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
