LINK is retesting the support level at the price of 13.55. This level is strong in a way to continue itself upwards after gaining the momentum. The resistance level at the price of 15.50 is strong enough for the market to tap into that region. The trend for chainlink is higher highs and higher lows and the mark up continues.

The descending flag pattern is formed and the market if breaks the descending trendline for the breakout buy, it will continue moving upwards.

The retracement level is at 50%m which is in confluence with the support level.

EMA 50 is curved upwards with a solid bullish momentum and trend. But, at the moment, it is bearish being below the price action. Once the market taps back above the EMA 50, it will show us the bullish sign.

RSI is at 51. It needs to dwell into the bullish region after retesting the zone at the 50 level or fall below the over sold region in order to align with the technical factors of the chart.

Chainlink in a bullish trend

Nov 26 2023