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LINK/USDT Perpetual Contract
Short
Updated

Chainlink (LINK): Possible Rejection From Resistance Zone

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Chainlink is currently near a major resistance zone in a 4-hour timeframe, looking for a possible rejection to happen from here.

One thing that concerns us is the break of both 100 and 200 EMAs but we have not tested them so there is a great chance of seeing a downward movement here if we manage to get strong rejection from resistance + RSI is overbought!

Swallow Team
Note
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Chainlink is still trading near the resistance zone, where we are seeing some strong bullish momentum with the price being pushy. We are monitoring and looking for any clean signs, waiting for a breakdown of 200EMA or a clean breakout from the resistance zone.
Note
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Chainlink made a great rejection from the upper zones and now we are back below 200EMA looking to reclaim the lower target zones!

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