Chainlink (LINK) has been gaining attention as its price approaches key resistance levels. Technical indicators suggest that the cryptocurrency's momentum could lead to further growth. The Directional Movement Index shows strong bullish momentum, with buyers having a clear advantage over sellers. The Average Directional Index suggests that the current trend is sustainable. The MVRV ratio indicates that LINK may still have room for price growth, with a value of 7.9%. However, traders should closely monitor the ratio as it approaches the 10% threshold, which could signal potential corrections. The formation of a golden cross in the EMA lines triggered a notable price surge. However, caution is advised as the lines are not yet significantly separated. LINK is facing strong resistance at levels of $13.9 and $15, but if it breaks through, it could test the $19.1 level. On the other hand, a trend reversal could lead to a pullback to the $9.9 support level. Traders should closely monitor these levels to determine LINK's next move.
- Content Editor ( beincrypto.com )
- 2024-09-27
Chainlink (LINK) Eyes 50% Surge as Bullish Momentum Builds