The price of Chainlink (LINK) is in a downward correction, while the altcoin continues its sideways movement. Currently, the upward movement is limited by the 21-day line SMA. Today, the bulls failed to break the 21-day line SMA while the altcoin continues its downward trend.
In the last 48 hours, the price of Chainlink (LINK) has turned positive as the bulls have crossed the 21-day line and the 50-day line SMAs. However, buyers fail to keep the price above the 50-day line SMA.
The price of Cardano (ADA) is performing positively as the price rises above the 21-day moving average line. Buyers pushed the altcoin to a high of $0.68 and then retreated. The recent rally reached an overbought area of the market.
The price of Chainlink (LINK) has fallen to the low of $5.50 as the bulls have bought the dips. On May 12, a bearish candle shows a protruding long tail. The tail of the long candle is pointing down, indicating that there is strong buying pressure at current support.