{"id":132580,"date":"2021-07-18T11:24:49","date_gmt":"2021-07-18T11:24:49","guid":{"rendered":"https:\/\/precoinnews.com\/?p=132580"},"modified":"2021-07-18T11:24:49","modified_gmt":"2021-07-18T11:24:49","slug":"chainlinks-15-support-is-the-level-to-watch-during-the-weekly-close","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/chainlinks-15-support-is-the-level-to-watch-during-the-weekly-close\/","title":{"rendered":"Chainlink&#039;s $15 Support is the Level to Watch During the Weekly Close"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/10\/ChainLink-07-10-2020-770x433.jpg\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/LINKUSDT-July-16th-1024x470.png\"><\/p>\n<p>Also from the chart above, the following can be observed:<\/p>\n<ul>\n<li>Chainlink remains in bearish territory as it trades below the 50-day, 100-day and 200-day moving averages<\/li>\n<li>A descending triangle has formed on the daily LINK\/USDT chart with a floor at $15<\/li>\n<li>Chainlink&#8217;s daily trade volume has been reducing since mid-May<\/li>\n<li>The histograms of the daily MACD also confirm a reduction in trading of Chainlink in the crypto markets<\/li>\n<li>The daily MACD also confirms an ongoing bearish scenario for LINK<\/li>\n<li>The daily MFI and RSI are in neutral territory with a slight inclination towards a bearish continuation for Chainlink<\/li>\n<\/ul>\n<h2>Chainlink&#8217;s $15 is the Level to Watch and Could be Tied to Bitcoin Maintaining its $30k Support<\/h2>\n<p>As earlier mentioned, earlier today Chainlink bounced off the $15 support area as Bitcoin experienced a daily low of $31k. Bitcoin is now trading at $32k as Chainlink hovers at the $15.80 price area.<\/p>\n<p>To note is that Bitcoin has maintained the $31k to $30k price area as support since mid-May thus leading to the loose conclusion that Chainlink&#8217;s fate above $15, is tied to Bitcoin maintaining a price above this crucial price area.<\/p>\n<p>Consequently, if Bitcoin loses $30k over the weekend, Chainlink will most likely lose its $15 support and go on to retest the $13 to $12 support zone.<\/p>\n<p>Source: <a href=\"https:\/\/en.ethereumworldnews.com\/chainlinks-15-support-is-the-level-to-watch-during-the-weekly-close\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Also from the chart above, the following<\/p>\n","protected":false},"author":3,"featured_media":132579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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