TL; DR Breakdown The Bollinger bands are narrow on the daily price analysis chart; this indicates a mild volatile market.24-hours Chainlink price analysis chart began in a bearish trend.The short red bars on the MACD Histograms are more than the short green bars suggesting sellers control the market. Chainlink price analysis: General price overview The daily Chainlink price analysis chart began the day while sellers were in control of the market. Five minutes later, the bulls created solid support at the low end of the day’s trading, $27.4. The prices rose, as a result, forming head and shoulder patterns to the intraday highs of $28.5, which sellers established. At this point, The sellers established a significant barrier that seemed to be a hard rock for the bulls to break. The strong resistance by the sellers allowed them to dominate the LINK/USD market, resulting in steep drops. The Bollinger bands are narrow on the daily Chainlink price analysis chart; this indicates a mild volatile market. LINK/USD price is facing the upper Bollinger band, indicating bullish momentum as the price is heading towards the overbought region. On the five-day price analysis chart, the 100-day Moving Average (MA) seems to be crossing over the 200-day Moving Averange (MA) at the minor resistance of $27.4. The whole cryptocurrency market is showing bearish signals as most coins trade in the red zone. Source: Coin360 The two most significan...
