homemade gates chainlink infosupport chainlink chainlink us dollar CHAINLINK LINK PREPARE YOURSELF FOR THIS !!!! CHAINLINK PRICE PREDICTION & TECHNICAL ANALYSIS
hey everyone codex here today what were gonna do is take a look at our beloved coin chain link and its current momentum so we can finally understand if this downtrend that we have been following for several months now will follow up in the second half of q1 of this year or if chain link is about to do the unexpected and start rallying so if thats something you are interested in and you find these videos helpful make sure to subscribe to the channel like this video and click on the bell icon so you get notified when i upload a new video also make sure to join our telegram channel and lets get into this one now as i said link has honestly been quite underwhelming in the last eight months to say the least especially for those that entered the market in the bullish phase back in the second half of q1 of 2021 of q1 of last year of course when link was doing quite well and its really not that difficult to understand the fear of those that got in here since the price is down almost 70 percent from its all-time high at 50 for ust and if you recall back in december when we talked about link we say that january tends to be the month in which chain link performs exceptionally well because thats what happened in the last four times and in fact link did go up 51 in the first 10 days of january creating some hype around it but we got projected right here from our micro scale support that turned into resistance and we also got rejected from this high volume note coming at slightly less than 30 bucks which sent us all the way down to 13.5 us dollars at some point so the price couldnt manage to break above these two levels and we got a massive retracement another thing to note is that link is currently below the bull market support bed which is by the way formed by the 21 weeks ema and the 20 weeks sme and this is also another sign showing that link is weak now and look since the crash we had back in march of 2020 to 1.35 ust the price has literally been standing and holding strong above this bull market support band creating new milestones and new all-time highs every single time and although we did have some weeks below it as you can see we have had some weeks below the bull markets appointment the momentum stayed overall strong until we fell bloat right here and the same thing is happening now we are below the bull market support band which is currently between 22 and 23.5 us dollars and we cant really expect a rally we cant really expect much from chain link as i said when we are below such levels for me now going above this bull market support band will be crucial it will be the first thing to look out for within the next few weeks if we want to start having a decent run at least moving on to our phoenix ascending indicator on the weekly time frame to discuss what may happen in the next couple of weeks based on the momentum we can see that the green line and the blue lsma and also the red rsi are all below the level of 50 and if you have been following this channel for a while you know what this means that the momentum is still perish bears still have control and we have the exact same momentum in the last summer of course look how the blue lsma and red rsi were below the mid yellow line and the green light was also descending and what we had right here was a continuous bearish trend the same thing happened in here with the momentum and the price of course then here again and also here as you can see so whenever these three lines are going down they are going to the downside and they are also below the level of 50 that means that the momentum is super bearish the only thing that will indicate a shift in the trend and a strong upside rally is if our blue lsma android aeroside can go up again and look back in this rally look how high both lines were they were constantly going up playing as support playing as bases and so was the price and the same thing happened in here blue lsma android rsi going up and holding strong and the price just followed them and thats what we need and such momentum takes a whole lot of time to be created so i dont see that happening anytime soon if im being honest unless some miracle chimes in im a big fan of link and what their project does but in terms of price action things dont look that great i do think that link is one of the best projects out there alongside to harmony one for example inj and elrond but the overall price action has been really underwhelming for a lot and look frankly to have such a long lasting bearish phase isnt that unusual especially after going up non-stop from 18 cents to 54 bucks i mean who wouldnt sell after a 29 000 move to the upside these bearish phases always happen after such moves and we have seen this with ethereum after the last bull run where we had a prolonged bear market that lasted for over a year so to conclude the long-term momentum is still bearish for link as its price is stuck between these two massive nodes that offer both insanely strong support in here at the 10 to 12 dollar range and also a strong resistance between the 22 to 27 level and despite what a lot have been saying on how ling performs well in times where btc performs poorly which i in some way agree with i think the time is now different after what i have seen people have been waiting for an old season for months now but the alt price just keeps sliding down and people keep comparing the arts performance to the 2018 bull run back in 2018 the crypto market cap was way smaller than now and you hit exchanges working with no kyc you could literally open a binance account use any vpn back then within three minutes and put 500 bucks in any random alt and it will go up 500 within a week but things are different now you have to acknowledge this saying that 2022 and 2018 will be similar in terms of the price action and the alts will rally and that link will do exceptionally well doesnt really make a whole lot of sense to me based on what we have of course this is based on what i see i mean who wouldnt love an old season but to me we are still in a bearish phase and this is still our accumulation phase although the prices can still go down for link thanks for sticking by till the end guys dont forget to leave the video a thumbs up make sure to subscribe to the channel leave a comment if you feel comfortable doing that make sure to share the video and have a nice day peace Twitter ➔ Telegram ➔ Email ➔ Get a 5% Discount on your crypto purchases On Binance ➔ Get $100 Bonus on phemex Hello Guys I do Crypto price analysis on YouTube. If you Find my videos Interesting I welcome you to the Team, If you dont I still welcome you. Disclaimer : None of the content shared from is intended as financial advice. All content provided, created on this channel is for entertainement purposes link Chainlink Priceprediction Chainlink,Priceprediction,link,