ChainLink / TetherUS
Long

LINK: Sideways Channel

250
ChainLink (LINK) technical analysis:

Trade setup: Price broke back below $7 and 200-day moving average and appears to be trading in a Sideways Channel ($6-8). Swing traders could trade the channel: Enter near $6 support and exit near $8 resistance. Recent rally was driven by lanch of staking service.

Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).

Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).

Support and Resistance: Nearest Support Zone is $7.00, which it broke, then $6.00. The nearest Resistance Zone is $8.00, then $9.50 – $10.00.

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