in

Chainlink PriceIs Sinking Lower targeting $5.6, TAMA Is Now Sold Out


Join Our Telegram channel to stay up to date on breaking news coverage

Chainlink may continue to experience a downward trend

Chainlink Price Analysis – August 30

An interruption of the sellers at $5.6 level may reverse Chainlink towards $8.1, $9.4 and $10.8 levels. Price is facing the $5.6 psychological support level and may break it down to target the potential support levels at $3.5, and $1.8.

LINK/USD Market

Key Levels:

Resistance levels: $8.1, $9.4, $10.8

Support levels: $5.6, $3.5, $1.8

LINK/USD Long-term Trend: Bearish

Chainlink is bearish in the daily time frame. Since August 13, Chainlink has been under the control of sellers, it is soaring lower every day. When the price reached the resistance level of $9.4, the just mentioned level could not be penetrated upside because there is no enough momentum from the bulls. Sellers gained enough momentum and the price commences a downward movement towards $5.6 level.

chainlink is trading below the two EMAs. It remains in the hand of the bears as the technical indicator Relative Strength Index period 14 supports the bearish action with its signal line pointing downward at 44 levels. An interruption of the sellers at $5.6 level may reverse the price towards $8.1, $9.4 and $10.8 levels. Price is facing the $5.6 psychological support level and may break it down to target the potential support levels at $3.5, and $1.8.

Buy Chainlink Now

 Your capital is at risk

Punt Crypto Casino Banner

 

LINK/USD Medium-term Trend: Bearish, TAMA Is Now Sold Out

Chainlink is bearish on the 4-hour chart. The market continues to experience downward trend towards $5.8 level when the increase in price was rejected at the resistance level of $9.4. The price was seen to be moving below the 9 periods EMA and 21 periods EMA as a sign of an increase in bearish momentum. The price breaks down the support level at $8.1 targeting $5.6 level.

In case the Chainlink price could cross below the $5.6 level, the coin may likely move towards the support at $3.5. The indicator Relative Strength Index periods 14 confirms that the market is moving down as the signal line point downside at $40 level.

Tamadoge Head of Growth Carl Dawkins spoke at a Blockchain and NFT conference as part of London Metaverse Week on Saturday, with several other TAMA holders in attendance. New crypto token presales and ICOs can often outperform bearish market conditions even if their launch day is a red day – investor sentiment, hype and optimism is highest in the early stages of a new crypto project.

Related

Tamadoge – Play to Earn Meme Coin

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Capped Supply of 2 Bn, Token Burn
  • Presale Raised $19 Million in Two Months
  • Upcoming ICO on LBank, Uniswap

Tamadoge logo


 

 

Join Our Telegram channel to stay up to date on breaking news coverage



Source link

What do you think?

Written by Blockchain Beat

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level

Crypto to hit billions of users by 2027, says Dan Morehead