Link token price struggles to hold the 50 day EMA and faces rejection from the supply zone
ChainLink token price had recovered 26% from the demand zone and technical indicators turning bullish
The MACD had generated positive crossover and RSI at neutral level
Chainlink token price is trading with the bullish cues and bulls are trying to keep the price above the 50 day EMA but it seems like buyers are lacking momentum near the supply zones. Currently, The pair of LINK/USDT is trading at $6.445 with an intraday gains of 1.75% and the 24-hour volume to market cap ratio stood at 0.1201
Will the Link price be able to break the swing high hurdle ?
Source : LINK/USDT daily chart by Tradingview
On a daily time frame, Link token prices are in a downtrend and have tried multiple times to break out of EMA’s but got rejected indicating the bear dominance on the higher levels. From the past couple of months, Link prices are trading sideways in the wide range between $5.400 to $9.500 with bea
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