Chainlink formed a bullish pattern on the charts and could revisit the $34-level after a brief dip towards $30. Waves and Nano were also likely to register a dip, at press time. While the long-term outlook remains bullish for Waves, Nano needs to see some strength from the market’s buyers, before it can move past the $7-level once more.
Chainlink formed a symmetrical triangle on the charts backed by falling trading volume. This indicated that a breakout to the upside was likely after LINK retests the lower boundary of the pattern in the $30.5-region.
The 38.2% retracement level at $30.15 could also see a candlewick. Given the previous market trend and LINK’s bullish momentum since it surged past $28, a move back towards $34 seemed around the corner.
The MACD formed a bearish crossover but stayed above zero to underline some short-term selling pressure. This was not a strong sell signal, however, with the same arising only if LINK falls under $30.15. Hence, the $30.3-$30.6 area is likely to invite buyers.
Both the RSI and the Stochastic RSI were slowly moving south for WAVES after it posted a high at $14.2. Levels of retracement can be highlighted as potential levels of support,