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ANALYSIS OF #LINK/USDT: PRICE ACTIVITY OF CHAINLINK COIN
The Chainlink digital coin (#LINK) is showing interesting price activity in the market, attracting the attention of traders and investors. Let's look at the main aspects of the analysis and analyze the prospects of this asset.
The current LINK chart shows a high volume pumping after the last correction and the price has stopped below the demand zone. It is interesting to note that the coin has already been in this zone for about 435 days, indicating significant consolidation and sideways movement over a long period of time.
The technical indicator RSI (relative strength index) is in the overbought zone and is forming a hidden bearish divergence. This may indicate a potential price correction or a decrease in bull activity. Traders and investors should pay special attention to this signal as it can affect market dynamics and trading decisions.
However, the scenario may change if horizontal resistance is broken. A strong breakout of this level could be a strong bullish signal and trigger price growth. In this case, LINK coin may reconsider its previous highs and start a new rally.
Traders must remain vigilant and use various indicators and analysis to make informed decisions. Cryptocurrency markets are characterized by high volatility, so traders must consider the risks and establish appropriate risk management strategies. It is also important to follow the latest news and events that may affect the price dynamics of the LINK coin and other cryptocurrencies.
