Chainlink reversed out of the support area

Chainlink cryptocurrency previously reversed up from the key support area located between the multi-month support level 13.2 (which has been reversing the price from the middle of January, as can be seen from the daily Chainlink chart below) and the lower daily Bollinger Band. The upward reversal from this support area stopped the earlier short-term impulse wave 3.

Given the moderately bullish sentiment that can be seen across the cryptocurrency markets today – Chainlink (LNKUSD) cryptocurrency can be expected to rise toward the next resistance level 14.42 (top of the previous minor correction 2).

LNKUSD - Primary Analysis - Apr-22 0734 AM (1 day)

 

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