#Link is ready

A short analysis on ChainLink 10th of November 2020


The bulls tried to propel Chainlink's LINK above the $13.28 resistance on Nov. 7 but failed. However, the positive thing is that the altcoin bounced off the 20-day EMA ($11.46) and the bulls are again trying to push the price above the overhead resistance.

If they succeed, it will complete a bullish inverse head-and-shoulders pattern that has a target objective of $19.2731. The 20-day EMA ($11.46) has started to turn up gradually, and the RSI is in the positive territory, which suggests a minor advantage to the bulls.

However, if the price again turns down from the overhead resistance, the bears will try to sink the LINK/USD pair below the moving averages. If they succeed, a drop to $9.7665 is possible.

(source: cointelegraph)

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