Tezos & Chainlink Prices Slide 10%

Published on by Cointele | Published on

The resistance at $4 was discussed in a previous analysis focused on Tezos and Chainlink and since then Tezos rallied towards this resistance and swiftly rejected it at this level.

Significant support levels can be found at $2.50 and $1.75 which is the previous resistance level.

The daily chart is showing similar support levels as the 3-day chart shows, primary support to be found at the $2.50-2.70 area.

The 0.0003400 satoshis level couldn't provide support, through which continuation of the downward trend happened.

The primary support levels to watch are the 0.0002950-0.0003000 satoshis level and the 0.0002500-0.0002550 satoshis level.

Flipping the $3.50 level for support would mean another support/resistance flip and likely continuation to the upside, or at least a retest of the $4.58 resistance area.

If Chainlink closes above the $3.75 level, the resistance from June 2019 is flipped support, and the retracement could be over.

The 4-hour chart shows an apparent support loss at the $4.00 level.

A bearish rejection at either of these levels would mean continuation downwards, through which the $3.50 level is the main support level.

The primary support is found at the 0.00037000 satoshis level as that's previously found to be the resistance.

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