Chainlink surpassed $ 24 but then trended downwards, which could lead to LINK retracement to around $ 22. Monero, on the other hand, has been struggling to get rid of the selling pressure of the past weeks.

 

 

Chainlink (LINK) price analysis

LINK broke its previous ATH at $ 20 to rise to $ 22.3 two weeks ago and made multiple attempts to cross this supply zone.

The region from $ 21.4 to $ 22.3 was in demand recently and can be expected to stop the bearish pressure. The $ 19.8 level will be the next level of support if the $ 22 zone doesn’t stop the bears.

With momentum rising strongly and the 1: 1 Gann fan line acting as support, there was a bearish trend between price and momentum. LINK peaks higher and RSI lower.

Monero (XMR) price analysis

XMR is showing a bearish trend on the charts since it surged to $ 190 earlier this month. Using the Fibonacci Retracement tool, some resistance levels can be plotted on the upper side for XMR.

The 50% level at $ 152 is the most important level for XMR to support the price recovery. Right now the short-term momentum seems neutral. The long-term outlook is still good as XMR has strongly defended the $ 115 and $ 130 support levels in the past two months.

See Also
Chainlink and AAVE price analysis: buying opportunity for LINK? AAVE has set its sights on these levels! Here are the details

While OBV has been on an upward trend over the past few days, it also highlights the selling pressure that has been going on for the past two weeks.

In the next few hours, key support levels for XMR were $ 135 and $ 130, while the 38.2% retracement level of $ 144 will serve as resistance.

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