- Technical Outlook: LINK stock hovers under pressure as downside risks escalate:
Chainlink stock is trading at $13.82 at the time of writing on Friday, affected by the decline of the 50-day Exponential Moving Average (EMA) at $15.23, the 100-day EMA at $16.85, and the 200-day EMA at $17.45, respectively, reinforcing the bearish trend. The Moving Average Convergence Divergence (MACD) line is above the signal line on the daily chart, while the positive histogram bars are shrinking, indicating slowing momentum. The Relative Strength Index (RSI) is down at 49 (neutral) from its recent highs on the same chart. Furthermore, the descending trendline from $27.87 limits the upside, with resistance at $18.35.
Daily chart for LINK/USD pair
The Parabolic SAR indicator has dropped below the price, recording the latest indicator at $10.35, signaling temporary stabilization. The ascending trendline from $10.93 supports the market, providing support near $14.30. A daily close above the 50-day EMA will pave the way toward the 100-day EMA, while failure to reclaim this support could expose LINK stock to renewed pressure. Momentum will increase if the MACD resumes its expansion and the RSI rises above the 50 level.
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- Technical Outlook: LINK stock hovers under pressure as downside risks escalate:
Chainlink stock is trading at $13.82 at the time of writing on Friday, affected by the decline of the 50-day Exponential Moving Average (EMA) at $15.23, the 100-day EMA at $16.85, and the 200-day EMA at $17.45, respectively, reinforcing the bearish trend. The Moving Average Convergence Divergence (MACD) line is above the signal line on the daily chart, while the positive histogram bars are shrinking, indicating slowing momentum.
The Relative Strength Index (RSI) is down at 49 (neutral) from its recent highs on the same chart. Furthermore, the descending trendline from $27.87 limits the upside, with resistance at $18.35.
Daily chart for LINK/USD pair
The Parabolic SAR indicator has dropped below the price, recording the latest indicator at $10.35, signaling temporary stabilization. The ascending trendline from $10.93 supports the market, providing support near $14.30. A daily close above the 50-day EMA will pave the way toward the 100-day EMA, while failure to reclaim this support could expose LINK stock to renewed pressure. Momentum will increase if the MACD resumes its expansion and the RSI rises above the 50 level.