Chainlink Bullish indications

chainlink price analysis

In the above chart diagram, we are looking at the Monthly, Weekly, and Daily charts of LINKUSD. Overall I am more bullish on this cryptocurrency, but I need to see a strong breakout with a close above 30 to confirm.

In the monthly chart to the left, we can see at least so far a lower high and a pullback from February’s highs. 

In the weekly chart in the middle, we can see the strong support levels at 25 and the resistance at 35. We can also see that last week’s candle,  price came down and tested 13 support before rebounding nicely to close back to 25 support.

In the daily chart to the right, we can see how that break above 30 will confirm a nice long setup for a potential next leg up. 

It will be important to break out of this flag pattern and continue to hold strong support at 25.

If the price goes the other way and breaks 25 then 24 is the next support level.

To sum up, it looks more bullish but we need to wait for confirmation.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

DailyCoin Team

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