{"id":436425,"date":"2020-08-27T05:48:51","date_gmt":"2020-08-27T05:48:51","guid":{"rendered":"https:\/\/wncen.com\/?p=436425"},"modified":"2020-08-27T04:26:12","modified_gmt":"2020-08-27T04:26:12","slug":"chainlink-link-is-showing-early-signs-of-fresh-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink-link-is-showing-early-signs-of-fresh-rally\/","title":{"rendered":"Chainlink (LINK) is Showing Early Signs of Fresh Rally, But 100 SMA is the Key"},"content":{"rendered":"
Chainlink (LINK) is trading nicely above the $14.00 support zone against the US Dollar. It seems like the bulls are setting up for another rally if the price clears the $16.00 resistance.<\/em><\/p>\n
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Chainlink token price is trading above the main $14.00 support zone against the US dollar.<\/li>\n
The bulls are facing a major resistance near the $16.00 level and 100 simple moving average (4-hours).<\/li>\n
There is a crucial contracting triangle forming with resistance near $16.00 on the 4-hours chart of the LINK\/USD pair (data source from Kraken).<\/li>\n
The pair is likely to start a fresh rally once it clears the $16.00 resistance zone.<\/li>\n<\/ul>\n
Chainlink (LINK) Holding Uptrend Support<\/h2>\n
After a major downside correction, chainlink (LINK) found support above the $12.50 level against the US Dollar. LINK formed a decent support base above the $14.00 level and started consolidating losses in a broad range below the 100 simple moving average (4-hours)<\/a>.<\/p>\n