Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Abu Dhabi launches a large project with Agile Dynamics for quantum -safe blockchain

2025-05-13

Cardano: As whaling rises, does Ada see a potential increase?

2025-05-13

The market capitalization of PI Network jumps $ 7 billion like token skyrockets 110% in a week in the middle of market bending

2025-05-13
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Abu Dhabi launches a large project with Agile Dynamics for quantum -safe blockchain

    2025-05-13

    Zimbabwe is turning into blockchain to breathe new life into the trust of the carbon credit of carbon credit

    2025-05-13

    Atlaspad and Arichain unite to stimulate user-friendly and scalable web3 acceptance

    2025-05-12

    Why Wall Street Crypto will not embrace without privacy of zero knowledge

    2025-05-12

    R2 Testnet affects 10 million transactions with 200K+ users in weeks

    2025-05-12
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    SEC chairman atkins repeats himself to overhaul crypto rules, promises to end ‘Regulation by enforcement’

    2025-05-12

    ‘Bond King’ Jeffrey Gundlach calls a catalyst who can cause an interest rate this year

    2025-05-11

    Concern about Trump’s conflict of interest slows down the progress of a broader crypto policy

    2025-05-10

    The German police interrupt $ 38,260,000 in crypto from Exchanges in the midst of allegations. The exchange has been washed bybit funds

    2025-05-10

    Trump Blackballs Lobby firm about controversy related to his ‘Crypto Strategic Reserve’ Truth Social Post: Report: Report

    2025-05-10
  • Analysis

    The market capitalization of PI Network jumps $ 7 billion like token skyrockets 110% in a week in the middle of market bending

    2025-05-13

    Can the resistance crush and re -design the rally?

    2025-05-12

    XRP performs better than the crypto market with 10% jump if open interest rises beyond $ 5 billion

    2025-05-12

    Coinbase head of the institutional strategy says that scarcity stimulates the overwhelming wave of demand from major players

    2025-05-12

    Analyst reveals factors that will make it happen in 2025

    2025-05-12
  • Learn

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Analysis»Can Bulls make a comeback?
Analysis

Can Bulls make a comeback?

2024-09-18No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

This article is available in Spanish.

Chain link is facing increasing bearish pressure as the price continues to decline, signaling a possible move towards further downside. After a period of consolidation, the bears have regained control, pushing Chainlink closer to the USD 9.28 support level.

However, Bulls may not be ready to give up just yet. With market sentiment fluctuating, there is the possibility of a bullish one comeback looms on the horizon. By researching key Based on technical indicators and market sentiment, we try to determine whether LINK is ready for a deeper decline or whether bullish forces could reverse the current trend and push the price higher.

At the time of writing, Chainlink was trading around $10.59, down 0.10% over the past day. The cryptocurrencies market Capitalization amounted to approximately $6.4 billion, while trading volume exceeded $206 million, showing increases of 0.10% and 15.36% respectively.

Current Market Sentiment: Pressure on Chainlink is Increasing

On the 4-hour chart, after a successful decline below $11, LINK continued to experience negative momentum heading towards the 100-day Simple Moving Average (SMA). As the cryptocurrency approaches the 100-day SMA, it may find temporary support or risk falling further if the SMA occurs bearish the momentum continues to increase.

Chain link
LINK shows growing negative momentum after falling below $11 | Source: LINKUSDT on Tradingview.com

The Relative Strength Index (RSI) on the 4-hour chart has also fallen below the 50% threshold and now stands at 42%. As the RSI attempts to move deeper into oversold territory, it appears that the bears are gaining control, and a longer decline is in store if buying interest does not pick up again soon.

See also  ADA price (Cardano) plunges to $0.32 on the horizon as bulls show weak hands

Related reading

On the daily chart, Chainlink is currently making a bearish move towards $7.14 which is trading below the 100-day Simple Moving Average. This move underlines strong selling pressure and negative market sentiment, indicating an increased risk of further losses.

Chain link
Chainlink falls below the 100-day SMA and targets the $7.14 level | Source: LINKUSDT on Tradingview.com

Finally, the 1-day RSI reflects increasing pessimistic pressure on LINK, as the indicator has fallen to 47% after briefly crossing above the 50% threshold. This decline highlights the increasing sales activity and signals a stronger one potential for extra downward movement.

Will LINK see a recovery or further decline?

As the cryptocurrency approaches $9.28 support level, which could trigger a potential technical recovery indicators such as the RSI still indicate strong selling pressure. If LINK fails to hold this level, a break below could result in continued declines, potentially testing the $7.14 support level and even lower thresholds.

Related reading

However, should Chainlink manage to hold above this crucial support level, it could pave the way for a potential upside move towards the $11.10 resistance. A successful break from this resistance could trigger a significant rally, paving the way for the price to target the next major resistance at $12.44. If bullish momentum continues to build, Chainlink could reach even higher levels, extending the rally past current resistance points.

Chain link
LINK is trading at $10.47 on the 1D chart | Source: LINKUSDT on Tradingview.com

Featured image from Medium, chart from Tradingview.com

Source link

Bulls comeback
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The market capitalization of PI Network jumps $ 7 billion like token skyrockets 110% in a week in the middle of market bending

2025-05-13

Can the resistance crush and re -design the rally?

2025-05-12

XRP performs better than the crypto market with 10% jump if open interest rises beyond $ 5 billion

2025-05-12

Coinbase head of the institutional strategy says that scarcity stimulates the overwhelming wave of demand from major players

2025-05-12
Add A Comment

Comments are closed.

Top Posts

How is it possible that Bitcoin is still rising?

2024-03-05

Bitcoin: Are Bears Making a Comeback?

2023-07-19

XRP Price Uptrend to Continue? These may be the factors to keep an eye on

2024-01-17
Editors Picks

Here are three possible Bitcoin Bull Run scenarios, according to ex-Goldman Sachs executive Raoul Pal

2023-12-10

83% of all Bitcoin holders are still making profits despite falling below $60,000

2024-07-09

Can bulls turn it around?

2025-01-29

Why Ethereum’s time to shine might be here

2023-11-24

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Abu Dhabi launches a large project with Agile Dynamics for quantum -safe blockchain

Cardano: As whaling rises, does Ada see a potential increase?

The market capitalization of PI Network jumps $ 7 billion like token skyrockets 110% in a week in the middle of market bending

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$102,805.94-2.47%
  • ethereumEthereum(ETH)$2,470.00-4.81%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.502.64%
  • binancecoinBNB(BNB)$651.47-2.28%
  • solanaSolana(SOL)$171.93-4.06%
  • usd-coinUSDC(USDC)$1.000.03%
  • dogecoinDogecoin(DOGE)$0.224715-9.73%
  • cardanoCardano(ADA)$0.80-4.96%
  • tronTRON(TRX)$0.263028-1.94%
  • suiSui(SUI)$3.97-6.22%
  • chainlinkChainlink(LINK)$16.48-7.29%
  • avalanche-2Avalanche(AVAX)$24.38-8.46%
  • stellarStellar(XLM)$0.305886-3.71%
  • shiba-inuShiba Inu(SHIB)$0.000015-9.83%
  • hedera-hashgraphHedera(HBAR)$0.207610-4.04%
  • hyperliquidHyperliquid(HYPE)$24.57-3.79%
  • the-open-networkToncoin(TON)$3.29-6.13%
  • unus-sed-leoUNUS SED LEO(LEO)$8.593.09%
  • bitcoin-cashBitcoin Cash(BCH)$399.11-4.16%
  • polkadotPolkadot(DOT)$4.99-6.33%
  • piPi(PI)$1.11-25.51%
  • litecoinLitecoin(LTC)$103.05-0.60%
  • moneroMonero(XMR)$339.67-1.98%
  • pepePepe(PEPE)$0.000014-7.69%
  • bitget-tokenBitget Token(BGB)$4.69-5.40%
  • daiDai(DAI)$1.000.03%
  • ethena-usdeEthena USDe(USDE)$1.000.07%
  • uniswapUniswap(UNI)$6.68-7.88%
  • bittensorBittensor(TAO)$457.90-4.97%
  • nearNEAR Protocol(NEAR)$3.06-7.41%
  • aptosAptos(APT)$5.68-7.15%
  • aaveAave(AAVE)$216.47-4.70%
  • okbOKB(OKB)$53.93-3.53%
  • ondo-financeOndo(ONDO)$1.00-8.73%
  • internet-computerInternet Computer(ICP)$5.59-7.85%
  • kaspaKaspa(KAS)$0.112939-11.78%
  • ethereum-classicEthereum Classic(ETC)$19.43-5.77%
  • gatechain-tokenGateToken(GT)$21.82-0.58%
  • mantleMantle(MNT)$0.79-3.65%
  • crypto-com-chainCronos(CRO)$0.098911-2.90%
  • render-tokenRender(RENDER)$5.05-8.03%
  • vechainVeChain(VET)$0.030070-11.29%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.247729-6.55%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.74-11.45%
  • ethenaEthena(ENA)$0.374872-13.33%
  • usd1World Liberty Financial USD(USD1)$1.000.05%
  • filecoinFilecoin(FIL)$3.03-7.60%
  • algorandAlgorand(ALGO)$0.234213-6.34%
  • arbitrumArbitrum(ARB)$0.420896-11.60%
  • bitcoinBitcoin(BTC)$102,805.94-2.47%
  • ethereumEthereum(ETH)$2,470.00-4.81%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.502.64%
  • binancecoinBNB(BNB)$651.47-2.28%
  • solanaSolana(SOL)$171.93-4.06%
  • usd-coinUSDC(USDC)$1.000.03%
  • dogecoinDogecoin(DOGE)$0.224715-9.73%
  • cardanoCardano(ADA)$0.80-4.96%
  • tronTRON(TRX)$0.263028-1.94%
  • suiSui(SUI)$3.97-6.22%
  • chainlinkChainlink(LINK)$16.48-7.29%
  • avalanche-2Avalanche(AVAX)$24.38-8.46%
  • stellarStellar(XLM)$0.305886-3.71%
  • shiba-inuShiba Inu(SHIB)$0.000015-9.83%
  • hedera-hashgraphHedera(HBAR)$0.207610-4.04%
  • hyperliquidHyperliquid(HYPE)$24.57-3.79%
  • the-open-networkToncoin(TON)$3.29-6.13%
  • unus-sed-leoUNUS SED LEO(LEO)$8.593.09%
  • bitcoin-cashBitcoin Cash(BCH)$399.11-4.16%
  • polkadotPolkadot(DOT)$4.99-6.33%
  • piPi(PI)$1.11-25.51%
  • litecoinLitecoin(LTC)$103.05-0.60%
  • moneroMonero(XMR)$339.67-1.98%
  • pepePepe(PEPE)$0.000014-7.69%
  • bitget-tokenBitget Token(BGB)$4.69-5.40%
  • daiDai(DAI)$1.000.03%
  • ethena-usdeEthena USDe(USDE)$1.000.07%
  • uniswapUniswap(UNI)$6.68-7.88%
  • bittensorBittensor(TAO)$457.90-4.97%
  • nearNEAR Protocol(NEAR)$3.06-7.41%
  • aptosAptos(APT)$5.68-7.15%
  • aaveAave(AAVE)$216.47-4.70%
  • okbOKB(OKB)$53.93-3.53%
  • ondo-financeOndo(ONDO)$1.00-8.73%
  • internet-computerInternet Computer(ICP)$5.59-7.85%
  • kaspaKaspa(KAS)$0.112939-11.78%
  • ethereum-classicEthereum Classic(ETC)$19.43-5.77%
  • gatechain-tokenGateToken(GT)$21.82-0.58%
  • mantleMantle(MNT)$0.79-3.65%
  • crypto-com-chainCronos(CRO)$0.098911-2.90%
  • render-tokenRender(RENDER)$5.05-8.03%
  • vechainVeChain(VET)$0.030070-11.29%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.247729-6.55%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.74-11.45%
  • ethenaEthena(ENA)$0.374872-13.33%
  • usd1World Liberty Financial USD(USD1)$1.000.05%
  • filecoinFilecoin(FIL)$3.03-7.60%
  • algorandAlgorand(ALGO)$0.234213-6.34%
  • arbitrumArbitrum(ARB)$0.420896-11.60%