Chainlink Price Analysis – April 30
The Chainlink price is recording a downtrend of 0.42% within the last 24 hours as the coin declines to the $11.9 low.
Resistance levels: $16, $17, $18
Support levels: $9, $8, $7
LINK/USD drops to $11.9 as the coin continues to follow the downward movement. The LINK price moves below the 9-day and 21-day moving averages as the technical indicator Relative Strength Index (14) shows increasing bearish momentum while the signal line prepares to cross into the oversold region.
Chainlink Price Analysis: LINK/USD May Drop More
The daily chart reveals that the LINK price is changing hands at $11.93 where it faces down. However, if the Chainlink price rises again and breaks above the 9-day and 21-day moving averages, the coin may begin its upward movement to retest the previous high. Meanwhile, the nearest resistance levels could be located at $16, $17, and $18, while the support levels lie at $9, $8, and $7 respectively giving a high bearish trading volume.
LINK/BTC Market: Bears are Digging Dip within the Channel
Against Bitcoin, the Chainlink price continues to drop as the coin remains under the 9-day and 21-day moving averages at the time of writing. Meanwhile, the next support level may surface at 2800 SAT and then locate further key support at 2600 SAT and 2400 SAT levels if the sell-off later becomes huge.
However, on the upside, if the bulls push the price above the upper boundary of the channel, the Chainlink price could face the 3500 SAT resistance. Any further resistance lies at 3700 SAT and above while the signal line of the Relative Strength Index (14) moves within the oversold region, and this may bring more bearish pressure into the market.