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  • After hitting $20 for the first time ever LINK saw a massive pullback down to $15.
  • The pullback is considered healthy as the breakout was extreme.

ChainLink is currently under healthy consolidation and has bounced from the daily 12-EMA at $15.35. 

LINK/USD daily chart

LINKUSD

ChainLink is still in a robust daily uptrend and would need to lose $12 to shift towards a downtrend. ChainLink bulls are happy with the recent pullback which establishes a new level of support on the way up.

The daily RSI has cooled off and the MACD is getting closer to a bearish cross. The trading volume of ChainLink is starting to pick up again.