The price of Chainlink (LINK) has resumed selling pressure after falling below the current support. In the previous price action, Chainlink moved between $6.60 and $8.00 price levels.
The price of Chainlink (LINK) is in a sideways trend as it trades below the moving average lines. The cryptocurrency is trading in a limited range between $6.70 and $8.00.
Chainlink (LINK) is trading in the uptrend zone as the price is above the moving average lines. Yesterday, the altcoin faced rejection as the market reached the overbought zone at $8.00.
The price of Chainlink (LINK) is in a downward correction as the altcoin faces another rejection at the 21-day line SMA. Since August 28, the price of LINK has been in an upward correction. The upward movement was terminated at the 21-day moving average line.
The price of Chainlink (LINK) has fallen and hit the low of $6.42. On August 19 price collapse, buyers stopped the decline as the altcoin corrected upward.