• The short and medium-term outlook is in a downtrend.
• Responsible selling recommended.

LINK/USD Medium-term Trend: Bearish

Supply zone: $4.00, $4.50, $5.00
Demand zone: $2.00, $1.80, $1.60

CHAINLINK continues in a downtrend in the medium-term outlook. The bears resumed the downward momentum on 20th July following the formation of tweezer to formation at $2.74 in the supply area, This area was critical because it is around the trendline with a bounce to the downside most expected.

The coin fell to $2.37 in the demand area before the end of yesterday session.

Today 4-hour opening candle at $2.45 closed as a bearish spinning top as the bears maintain a stronghold of the market. Increased momentum led to a further drop in price to $2.23.

Price is below the two EMAs and the signal of the stochastic oscillator signal is down at 10% in the oversold region. These are indications of downward momentum with the target at $2.00 a key demand area in the medium-term.

LINK/USD Short-term Trend: Bearish

The short-term outlook of the cryptocurrency is in a downtrend. The bears' pressure on the coin remained strong with the formation of lower low each day which is a reflection of a down-trending market. Today low is on the card as bears took control of the market as it opens today at $2.39.

Price is already down to $2.24 in the demand area below the two EMAs and the signal of the stochastic oscillator points down at 31% an indication of continuation in the downward momentum in price in the short-term with more candle s opened and closed below the EMAs.

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