• The LINK/USD pair is in a bearish momentum and a sell signal.
• The $2.08 support level was holding as the bulls broke above the 12-day EMA and the 26-day EMA to reach the bullish trend zone.

LINK/USD Long-term Trend: Bullish

• Resistance levels: $2.8000, $3.0000, $3.2000
• Support levels: $2.4000, $2.2000, $2.0000

The LINK/USD pair was in the sideways trend zone. On June 29, the bulls tested the $4.000 overhead resistance level and were resisted. The price of LINK had since been on a downward correction. On July 17, the downward trend was corrected at its low of the $2.08 price level.

The $2.08 support level was holding as the bulls broke above the 12-day EMA and the 26-day EMA to reach the bullish trend zone. However, the bulls were resisted at the $2.8000 price level and the coin fell to a range bound move below and above EMAs.

The 12-day EMA and the 26-day EMA are trending horizontally and are flattened indicating that price is in a sideways trend.The stochastic is in the oversold region but below the 20% range which indicates that the price of Chainlink is in a bearish momentum and a sell signal.

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