Chainlink is one of the assets in crypto that shows strength.
Check the weekly chart and you'll see that the RSI has only broken below 40 once and that is in the most bearish period of the 2018 Crypto winter.
With that being said, LINK is currently trading below the EMA ribbon on the weekly. A choppy ride for days and weeks is only logical at this point, knowing that there's also a broadening rising channel that would most likely break to the downside.
Is that a bad thing though?
Not necessarily. Another dump will give you the opportunity to get some cheap Link sub $14. ($13.3 would be my buy orders target)
If we do however break above the RIBBON, we will likely be going near ATH in the mid-term.
STAY TUNED for LINK updates!
PEACE! and happy 4th of JULY!
Check the weekly chart and you'll see that the RSI has only broken below 40 once and that is in the most bearish period of the 2018 Crypto winter.
With that being said, LINK is currently trading below the EMA ribbon on the weekly. A choppy ride for days and weeks is only logical at this point, knowing that there's also a broadening rising channel that would most likely break to the downside.
Is that a bad thing though?
Not necessarily. Another dump will give you the opportunity to get some cheap Link sub $14. ($13.3 would be my buy orders target)
If we do however break above the RIBBON, we will likely be going near ATH in the mid-term.
STAY TUNED for LINK updates!
PEACE! and happy 4th of JULY!