Chainlink (LINK) Faces Rejection at $32, Targets the $4.78 Low
Chainlink (LINK) Long-Term Analysis: Bearish
LINK price is falling as it broke the previous low at $19. This recent fall was a result of rejection from level $44. Firstly, LINK dropped to $19.69 and corrected upward. The upward correction was terminated at $32 as the market resumes downward. In the previous price action, LINK was repelled at the peak price of $52.50. The downtrend resumes as price makes a series of lower highs and lower lows. Meanwhile, on May 19 downward, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that LINK price will decline to level 1.618 Fibonacci level or level $5.09.
Chainlink (LINK) Indicator Analysis
LINK has fallen to level 32 of the Relative Strength Index period 14. It indicates that the market is approaching the...
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