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ChainLink Price Analysis: LINK/USD bulls take up control, price remains in overbought zone

ChainLink Price Analysis: LINK/USD bulls take up control, price remains in overbought zone
Rajarshi MitraRajarshi MitraIndependent Analyst

LINK/USD daily chart

LINK/USD daily charts

LINK/USD bulls regained control of the market following a bearish Wednesday. The price has gone up from $9.54 to $9.84. The price is hovering above the 20-day Bollinger Band, showing that it is currently overvalued. The MACD shows increasing bullish momentum. Healthy support lies at $8.67, $8.07 (SMA 20) and $7.64. The increasing width of the 20-day Bollinger jaw shows increasing price volatility.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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