The LINK coin price surpasses the resistance trendline with a jump in trading volume, increasing the chances of a 10% price jump. Key technical points: LINK prices surpass the short-term resistance trendline. The EMAs maintain a bearish alignment. The 24-hour trading volume of Chainlink is $637 Million, marking a 15% rise. Past Performance of LINK With the head and shoulder pattern breakout on 20th February, the LINK coin price falls to $12.65 before retesting the neckline at $15. Post-retest, the downfall continues to approach the $12.65 under the highly bearish resistance trendline. Accounting for the fall from the head formed above $18, the altcoin has discounted by 30% last month. Source-Tradingview LINK Technical Analysis LINK coin price surpasses the resistance trendline starting with the head and shoulder pattern marking a potential trend reversal. However, the upcoming multiple resistance levels will keep the growth in check, The crucial EMAs (50,100 and 200) maintain bearish alignment in the downtrend and provide constant selling pressure. Hence, the trendline breakout highlights the possibility of a price jump to the 50-day EMA. RSI Indicator: The RSI slope shows a sudden jump in underlying bullishness evident by the 14-day SMA breakout. The string reaches the halfway mark and increases the trend reversal possibility. MACD Indicator: The MACD and signal lines diverge to regain the bullish alignment and continue the a...
