TRENDING:
Oil price
XAU/USD
EUR/USD
Trade War
GBP/USD
Silver
Sponsored by
Login
|

ChainLink Technical Analysis: LINK/USD continues going up and hits $17.73

  • LINK/USD exploded again even though the digital asset was already overextended.
  • LINK bulls are extremely strong right now and eying up $18.
ChainLink Technical Analysis: LINK/USD continues going up and hits $17.73
Lorenzo StroeLorenzo StroeIndependent Analyst

 It’s definitely hard to predict when LINK’s rally will stop or at least pause as it seems the digital asset is not facing a lot of selling pressure. ChainLink is currently trading at $17 after a brief pullback towards $16 but the bullish momentum remains strong.

LINK/USD daily chart

LINKUSD

Clearly, LINK’s momentum is unstoppable even though the daily RSI is extremely overextended. The trading volume has been increasing significantly over the past week which indicates the breakout is not just a random pump. 

Bulls have defended the daily 12-EMA several times in a row and bounced quite hard from it.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Ripple slumps toward $1.00 despite network growth and ETF demand

Ripple slumps toward $1.00 despite network growth and ETF demand

Ripple (XRP) is holding above the key $1.00 psychological support level at the time of writing on Tuesday, even as the market endures a protracted downturn that began in mid-June.

Crypto Today: Bitcoin, Ethereum, XRP correction deepens as capitulation persists

Crypto Today: Bitcoin, Ethereum, XRP correction deepens as capitulation persists

The cryptocurrency market continues to face downward momentum on Tuesday, with Bitcoin (BTC) sliding below $60,000, Ethereum (ETH) breaching the $1,600 mark, and Ripple (XRP) retreating toward its critical $1.00 psychological threshold.

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

Why a hawkish Bank of Japan could trigger the next Bitcoin sell-off

The Japanese Yen (JPY) recorded its lowest level in four decades, at 162.00 against the US Dollar (USD) on Tuesday, raising concerns that the Bank of Japan (BoJ) could intervene to protect the Yen.

Bitcoin struggles near $59,500 amid persistent ETF outflows, US-Iran Doha talks in doubt

Bitcoin struggles near $59,500 amid persistent ETF outflows, US-Iran Doha talks in doubt

Bitcoin struggles around $59,500 on Tuesday after a massive two-week correction. Investors remain cautious as the US and Iran offer different signals over whether their delegations will hold direct peace talks in Qatar.

Bitcoin: BTC hits 20-month low, will the pain continue?

Bitcoin: BTC hits 20-month low, will the pain continue?

Bitcoin has remained under pressure this past week, losing over 5% as traders assess mixed signals from different parties involved in the Middle East conflict.