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While Chainlink prepares for recovery, long bets still not ideal. Here’s why
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Chainlink has laid the ground for a recovery following an oversold RSI and a bullish crossover on the MACD. A move above the 4-hour 20-SMA and 38.2% Fibonacci level would open a route towards the $34-mark, provided bulls are able to successfully negotiate past certain swing highs at $30 and $31.5.
At the time of writing, LINK traded at $27.9, down by 1.8% over the last 24 hours.
Source: LINK/USD, TradingView
Chainlink attempted a revival after an up-channel breakdown triggered a 22% sell-off
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