• RSI near mid-range shows balanced market sentiment for Chainlink (LINK).
• MACD line below signal indicates fading momentum.
• EMA 200 at $20.66 acts as major resistance, keeping the trend under pressure.

Chainlink (LINK), the top decentralized oracle network, is consolidating now as market conditions become less volatile and traders look for a clear directional move. With technicals and on-chain metrics in alignment, investors are keeping close tabs on three key indicators that can determine LINK’s next significant price direction.

RSI, MACD & EMA 200: Chainlink’s (LINK) 3 Technical Indicators to Watch

The Relative Strength Index (RSI) of Chainlink (LINK) indicates a normal buying and selling activity in the altcoins network, as the median is shown between 60 and 30. The RSI values of 46.35 and 40.07 indicate neutral market conditions, suggesting normal buying and selling activity.

The Moving Average Convergence Divergence (MACD) of LINK, indicates a bearish crossover, suggesting that the price may decrease temporarily. The signal line above the MACD line indicates a bearish crossover. The blue line represents the MACD line, while the orange line indicates the signal line.

The altcoin is still bearish under the EMA 200 ($20.66), but the shorter EMAs rising closer to $18.70-$19.00 suggest bullish momentum is gradually returning. A breakout and continued move above $20.66 would be an affirmation of a trend reversal to a more positive outlook.

Also Read: Chainlink (LINK) Eyes $20 Breakout as Momentum Builds Across Markets

Analyzing LINK’s Trend with Key Resistance and Support Levels

LINK currently has a market capitalization of approximately $12.88 billion, ranking it in the top alternative coins, with a trading volume of about $1.13 billion in the last 24 hours. At press time, the altcoin is trading at $19.01, having increased by 9.75% over the last 24 hours. 

The price is moving in a bullish trend and is currently testing a resistance level near $17.30. If it breaks above this, the next target could be $18.00. On the downside, the support level is around $16.58. If the altcoin falls below this level, we might see a drop towards $14.00.

The blue line indicates the resistance level at $17.30, while the yellow line represents the support level at $16.58.

Conclusion

Chainlink’s (LINK) current setup suggest a phase of uncertainty ,with the RSI showing neither bullish nor bearish sentiment and the MACD showing bearish lean, hinting at dissipating momentum. The EMA 200 at $20.66 is still the critical level to monitor, a rejection there could confirm short-term weakness, while a breakout above it may mark the initiation of a new uptrend.

Also Read: Chainlink Price Analysis: $14 Support Zone May Trigger Strong Recovery to $50