{"id":447086,"date":"2020-10-20T07:48:03","date_gmt":"2020-10-20T07:48:03","guid":{"rendered":"https:\/\/wncen.com\/?p=447086"},"modified":"2024-06-11T14:07:18","modified_gmt":"2024-06-11T14:07:18","slug":"chainlink-link-rejected-11","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/chainlink\/chainlink-link-rejected-11\/","title":{"rendered":"Charted: Chainlink (LINK) Rejected $11, And It’s Vulnerable to a Drop Below $10.5"},"content":{"rendered":"
Chainlink (LINK) started a fresh increase, but it struggled to clear the $11.00 resistance. There is now a risk of a sharp decline below $10.50 if there is no break above $11.00.<\/em><\/p>\n After a test of the $11.80 resistance, there was a downside correction in chainlink (LINK) below $11.00. The price even broke the $10.50 support<\/a>, but it remained well bid above the $10.25 support and the 100 simple moving average (4-hours).<\/p>\n A low is formed near $10.26 and the price is currently recovering higher. There was a break above a major contracting triangle with resistance near $10.65 on the 4-hours chart of the LINK\/USD pair.<\/p>\n The pair broke the $10.80 resistance level, plus the 50% Fib retracement level of the downward move from the $11.82 high to $10.26 low. However, the price faced a strong resistance near the $11.00 and $11.10 levels.<\/p>\n <\/a><\/p>\n It seems like there was a rejection near the 61.8% Fib retracement level of the downward move from the $11.82 high to $10.26 low. The price is currently moving lower and trading with a bearish angle below $10.85. The next support is near the $10.50 level.<\/p>\n The main support is near the $10.25 level and the 100 simple moving average (4-hours), below which there is a risk of a sharp decline. The next major support is seen near the $9.60 level.<\/p>\n\n
Chainlink (LINK) Price is Facing Hurdles<\/h2>\n
Source: LINKUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase?<\/h2>\n