.21 March Chainlink Price Analysis = Chainlink (LINK), a coin that we know very well with its successful moves in 2020, went below the trend line of the moving averages and the rising triangle, which invalidated the bullish setup.
Traders who buy before the break can close their positions, which could lower the price to $ 24.
Flat moving averages and RSI below the center point to a possible price range-bound action with a negative bias in the near term. If they can keep the price below $ 24, the trend will turn in favor of the bears.
This bearish view will become invalid if the price breaks out of the current levels and goes above $ 32. Such a move would show that the current breakout below the moving averages is a bear trap. Therefore, investors are advised to pay attention to these traps.
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