TL;DR Breakdown Chainlink price analysis suggests sideways movement LINK faces resistance at the $31.00 markThe closest support level lies at $30.00 The Chainlink price analysis shows that LINK was unable to continue its hike above the $31.00 mark and has retraced to the $30.00 support level. Currently, the analysis shows a positive sentiment for the price action, but the bulls need to rest before they can continue marching upwards. The broader cryptocurrency market observes a mixed market sentiment as while most major cryptocurrencies record positive price movements, the movements have been small while many assets, including Ethereum record losses. Major players include Litecoin and Internet Computer, recording a 17.28 and a 12.61 percent incline, respectively. Chainlink price analysis: exhausted bulls Technical indicators for LINK/USDT by Tradingview Across the technical indicators, the MACD has just exhibited a bearish crossover as the green histogram turned red. The indicator had remained bullish since the start of September but started showing a declining bullish momentum as the LINK price action started stagnating near the $30.00 mark. In the last 48 hours, LINK failed to climb above the $31 mark and has fallen back to the $30.00 support showing a bearish dominance over the price action. The EMAs are currently moving horizontally as the price oscillates between the $30.00 and the $31.00 mark. However, ...
