Analysis of Chainlink Price
Chainlink
LINK
tickers down
21.59 €
fell below the 50-day SMA (21.19 dollars) and descended to the support level of the bearish H&S pattern on December 30
The descending 20-day EMA (22.57 dollars) and the RSI in negative territory indicate that the weaker resistance is downward. If the price closes below 20 dollars, the LINK/USDT pair could fall to 16 dollars.
On the contrary, a strong bounce from 20 dollars will suggest that the bulls are fiercely defending the level. Any recovery is expected to face selling at the 20-day EMA, but if the bulls overcome this resistance, the pair could jump to 26 dollars.
