With the rapid downhill movement, the crypto market experienced in the last trading session. Several market players are more concerned about what could be the right trading decision as regards buying the Chainlink (LINK) assets.
And to justify the approach of the market with the opportunities the LINK/USD market has to offer. Take a look at what LINK/USD technical analysis seems like before considering a buy order.
Technical levels to watch before buying chainlink
Heavy bearish storms drag the value of Chainlink downhill after weak volume among the bulls caused the value of Chainlink to depreciate against the US dollar. At the same time, it is assumed that supply and demand are the major factors that control the price action of the digital currency market.
From north to south LINK/USD trading activities have proved to be a good example of the reaction caused as a result of market supply and demand, which tend to leave a mark on the crypto market price action.
LINK/USD hourly chart technical analysis
Source – TradingViewWith a technical analysis look on the 4-hour chart market investors would discover that the LINK/USD chart pattern is in for a long-term bearish price movement. As $10.59 near-term support endures welcoming the value of the digital asset to balance its feet along with its horizontal support. Alongside buying LINK/USD at this price point would enable a long-term gain for traders because $10.59 serves as the all-time low initial support for the asset.Final thoughts and trading recommendation
The upcoming Federal Open Market Committee (FOMC) meeting that’s set to come up on Wednesday would perhaps produce a rise in volatility in the crypto market. After expectations from market players await an interest rate hike announcement from the Fed chairman Jeremy Powell soon.
The post Should you buy chainlink as the price get stuck at $15 appeared first on Coin Journal.
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