ChainLink Price Analysis: LINK/USD falls below $7.50 level
- LINK/USD bears dominated this Monday.
- Bearish price action forced the RSI to drop below the overbought zone.
- MACD is looking to reverse market momentum from bullish to bearish.
LINK/USD daily chart
LINK/USD crashed from $8.065 to $7.487 as the bears dominated this Monday. The price has dropped below the upward trending line and the RSI has fallen from the overbought zone. The MACD line is about to cross over the signal line, indicating that the market momentum is going to reverse from bullish to bearish.
Support and Resistance
LINK/USD has strong resistance levels at $8.06 and $8.625. On the downside, we have good support at $7.40 and $6.45.
Author
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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