Chainlink Price Analysis: LINK Trading In Huge Downtrend, Possible V-Formation

Chainlink Price is trading in a huge downtrend channel and is forming a possible V-formation. Now it is consolidating below the EMAs and is showing low volume. The RSI bounced at the oversold area which is bullish but it can come back again into this arena to confirm this overall shape.

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Chainlink [LINK] Price Analysis: 4 Hr Chart

Chainlink Price Analysis
Chainlink Price Analysis

The MACD showed a crossover to the upside and this is a bullish sign when it does not come back and crosses again to the downside this will give a fake breakout when LINK confirms the V-formation and above the EMAs we can expect it to cross over the downtrend channel also this will give a bullish sign otherwise it is till bearish. 

  • TREND: Consolidation
  • EXPECTATION: V-formation
  • TREND AFTER EXPECTATION: breakout
  • PREV: 3.95245
  • OPEN: 3.93269
  • VOLUME: 174.508K
  • DAY’S RANGE: 3.89548 — 4.09664
Chainlink Price Analysis: LINK Trading In Huge Downtrend, Possible V-Formation
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Chainlink Price Analysis: LINK Trading In Huge Downtrend, Possible V-Formation
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Chainlink Price is trading in a huge downtrend channel and is forming a possible V-formation. Now it is consolidating below the EMAs and is showing low volume. The RSI bounced at the oversold area which is bullish but it can come back again into this arena to confirm this overall shape.
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Author: Sunil Sharma



Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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