LINK Continues Its Rally as Bulls Gain More Ground
Jun 09, 2020 at 10:37 //
News
LINK has made impressive bullish runs as it reaches a high of $4.60. The crypto will recover fully from the bear market if the current resistance level is overcome.
However, in its first resistance, the market fell to $4.10 low and corrected upward. In its correction, the upward move is being restricted below the minor resistance at $4.50.
In the meantime, price is fluctuating between $4.30 to retest the minor resistance at $4.50. Nonetheless, a strong bounce above $4.30 will propel price to break through the resistance levels of $4.50 and $4.60. The momentum will then extend to $4.96 if the bulls are successful. Nevertheless, LINK is in a sideways move below the minor resistance at $4.50.
LINK indicator analysis
The crypto is presently above the 74% range of the daily stochastic. The crypto is approaching the overbought region. It is also in a strong bullish momentum. The crypto has the propensity to rise because it is above the EMAs. The coin is in an ascending channel, a break below the support line will indicate a downward movement of the coin.
Key Resistance levels: $4, $4.5, $5
Key Support levels: $3, $2.50, $2
What is the next move for LINK?
LINK has recovered 89% of its losses from the bear market. Virtually, the market is under the control of the bulls as the bullish momentum is sustained. However, the bulls are undone as they struggle to break the minor resistance at $4.50. A sideways move is likely if the bulls fail to break the minor resistance.
Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Coin Idol, @Khareem Sudlow