CHAINLINK Price Prediction Today: Daily (LINK) Value Forecast – July 2
- The short-term is in a bearish trend while the medium-term outlook is in a bullish trend.
- Traders should look to buy at pullback areas.
LINK/USD Medium-term Trend: Bullish
Supply zone: $4.00, $4.50, $5.00
Demand zone: $2.00, $1.50, $1.00
CHAINLINK continues in a bullish trend in the medium-term outlook. The correction of the bullish impulsive move of 29th June at $4.68 in the supply area was exhausted at $2.85 in the demand area on 1st July as the bears gradually lost momentum.
This area was the 61.8 fib area a trend reversal zone. The 50-EMA acted support at this area for the bulls returned.
LINKUSD rose to $4.16 in the supply area shortly after today opening session with the bulls in control as they resume for upward price movement in the medium-term.
Price is above the two EMAs while the signal of the stochastic oscillator points up at 61% which suggests upward momentum in price a.
$2.40 in the supply area is on the horizon as more buyers take positions in the market.
LINK/USD Short-term Trend: Bearish
The short-term outlook of the cryptocurrency is a downtrend. The market opened today with the bears in control at $3.81. Price dropped briefly to $2.13 in the demand before a temporal momentum loss.
With the formation of a bullish doji at the demand area, the bulls took control of the market. LINKUSD rose to $4.05 in the supply area and closed with a wick an indication of exhaustion. This also created a double-top formation that favour the bears return for downward price continuation.
Price is below the 10-EMA and the stochastic oscillator point down at 63% which suggest downward momentum in price of the coin in the short-term.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.