Chainlink, the 24th most valuable crypto asset, has a market cap of $ 3.3 million at the time this article was written. It is well-known for its ability to enhance smart contract capabilities through high levels security and reliability. This includes enabling access real-world data and offchain computation. It is well-known for having one of the most flexible and secure infrastructures in the crypto blockchain ecosystem.
Link traded at $7.25 as of the writing date.
Chart by Chainlink (LINK).
After taking several supports at $5.5, LINK showed good recovery and soared by almost 72.7% to $9.5 The bulls failed to sustain their gains after this move and failed to break the $9.5 resistance (Horizontal Trendline and High of 9th JUNE). After forming a pattern of ‘Lower Bottom Lower Top,’ the asset experienced a sharp correction that dropped to $6.6. Link has formed a ‘Long Doji,’ which signals the start of a consolidation phase where price action could soon break out and form a new trend. The immediate resistance is at $7.75 (20-day moving average), while $6.5 and $5.5 will provide strong support. A breakout above $9.5 will lead to a rally that can reach $12.
Support 2Support 1AssetResistance1Resistance 25.56.5LINK7.759.5
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation, investment goals or needs of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, completeness, correctness, completeness, or reliability of any information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in the event of changes or unforeseen events. Trading and Investments in crypto assets viz. Bitcoin, Bitcoin Cash, Ethereum, etc. These are highly speculative investments and can be subject to market risk. The Author’s analysis is intended to be informative only and should not serve as investment advice.
25th-AUG-2022 ZebPay.
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