Demand

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.

Dogecoin (DOGE) price continues to fluctuate above the $0.13 support since the April 11 plunge.

The price of Bitcoin Cash (BCH) is in a downward correction as the altcoin fluctuates between moving averages. The current downtrend has eased as the altcoin finds support above the $290 low.

Binance Coin (BNB) price is forced to range as price fluctuates between moving averages.

Many altcoins are being rejected from recent highs. Demand is drying up at higher price levels. Bulls are not buying the dips either.

The price of Bitcoin (BTC) has dropped and fallen above the moving averages. In other words, it has fallen above the psychological price level of $40,000.