fxstreet.com 16 Feb, 2021 15:30 am

LINK technical pattern nearing breaking point, colossal 25% move looms

Chainlink has been trading sideways for the past two days after establishing a new all-time high at $35.69. Now, LINK has formed a symmetrical triangl

Chainlink price is contained inside a symmetrical triangle pattern on the 4-hour chart.Chainlink price can quickly fall towards $25 On the 4-hour chart, the symmetrical triangle formed by Chainlink is on the verge of a breakout or breakdown.LINK/USD 4-hour chart The bears have the upper hand as the TD Sequential indicator has just presented a sell signal on the daily chart.LINK/USD daily chart Nonetheless, on the 4-hour chart, LINK bulls have defended the lower boundary several times in a row and aim for a rebound towards the upper trendline at $34.

A key indicator has presented a sell signal on the daily chart, giving the upper hand to the sellers.Now, LINK has formed a symmetrical triangle pattern which is on the verge of bursting.

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