This article examines the current trends in the cryptocurrency markets for Chainlink and POL. Both assets exhibit bearish dynamics, yet their potential support levels attract traders' interest.
Chainlink Update: Key Levels and Bearish Signals
Chainlink’s price has fallen sharply by 28.70% over the past month and 51.34% over the last six months. A weekly decline of 9.25% adds to the overall bearish trend. Price action indicates strong selling pressure and limited recovery, with current support at $10.30 and resistance at $19.80. Indicators like -1.63 on the Awesome Oscillator and -2.05 for momentum confirm downward pressure. A relative strength index of 33.13 indicates weak buying interest.
POL (ex-MATIC) Faces Bearish Drift
POL’s price declined by 31.10% over the past month and 65.50% in the last six months, with a weekly drop of 13.07%. The coin trades between $0.18 and $0.26, facing key support at $0.15 and clear resistance at $0.31. If buyers break through this resistance, an upward movement could target $0.38. Technical readings suggest bears dominate with negative momentum indicators.
Conclusion
Chainlink and POL appear to be in a consolidation phase, maintaining stable support levels. Both assets have potential for upward movement if current patterns persist. Monitoring these developments is crucial for understanding their next moves.
The analysis of current support and resistance levels is essential for forecasting future movements of Chainlink and POL. Keeping track of these assets can aid traders in making informed decisions.
