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Trishla Tyagi
Dec 18, 2021
by Trishla Tyagi

LINK Is Getting to the Maximum Opportunity Spots for a Bounce: Pentoshi

LINK Pentoshi
LINK has been flipping out after pushing higher in the past few days. The crypto looks like it is starting to make a bounce and could be ready to push higher again soon. If the LINK price is unable to bounce, it may bounce near past resistance, tweeted by Pentoshi (crypto influencer).

With a 24-hour trading volume of $945,640,482, the current price of LINK is $19.14. In the last 24 hours, LINK is up by 1.88% of its support line.

Since the middle of November, the price of Chainlink has experienced significant retracements. Since its November peak, LINK has lost more than 60% of its value.

The LINK according to Pentoshi:

  • It's quite likely that a mean reversion test to $26 will be successful.

  • After breaching resistance in an ascending triangle pattern, LINK had a breakthrough and surged considerably higher. The Chainlink is currently falling lower, and it may find support where resistance formerly stood.

  • Before the breakthrough, the level served as resistance, but it may now serve as support. 

  • The coin is trading above both the 50-day and 200-day moving averages, suggesting bullish sentiment. Each of these moving averages might serve as a future support level.

  • During a crypto market upswing, the Chainlink RSI tends to stay above 30 and regularly reaches 70.

  •  During a decline, the Chainlink RSI seldom exceeds 70, while the indicator regularly falls below 30.

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    Chainlink Chainlink (LINK) support and resistance Pentoshi
    LINK Is Getting to the Maximum Opportunity Spots for a Bounce: Pentoshi
    Trishla Tyagi
    Trishla is a crypto writer and social media aficionado. She has substantial experience in covering updates, events, and news related to the crypto space, along with rapidly expanding blockchain and financial technology markets. Her experience in the cryptocurrency market has led her to become a crypto hodler herself.