Chainlink Technical Analysis: LINK Falls Towards $15 Support Wall

Daily Chainlink LINK Price Analysis

Last Updated July 23rd 2021
1 Min Read
  • Chainlink price could drop for three more sessions, as per the TD sequential detector.
  • MACD is on the verge of reversing from bullish to bearish.
  • The Chainlink price crumbled under bearish pressure and dropped from $20 to $15.90 since July 7. During this drop, LINK managed to flip the 20-day SMA from support to resistance. Let’s take a closer look.

    Chainlink Price Can Drop For Three More Sessions

    The Chainlink price is in heavy bearish control and has had four consecutive red candlesticks. The TD sequential detector indicates that LINK could drop for three more sessions before flashing the bullish red-nine candlestick. The MACD indicates that the market momentum is on the verge of reversing from green to red.

    Image: LINK/USD daily

    LINK/USD daily chart 071621

    The Chainlink price is falling towards the $15 support wall. As per IntoTheBlock’s IOMAP, 12,300 addresses had purchased almost 3 million LINK tokens at this level. 

    Image: IntoTheBlock

    LINK/USD volume chart 071621

    Chainlink Price Is Expected To Reach These Levels

    If the Chainlink price breaks below the $15 support wall, it will drop all the way to the $13.50 support.

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