Chainlink Priceis 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.
Chainlink [LINK] Price Analysis: 4 Hr Chart
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.
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at firstname.lastname@example.org