Chainlink is expected to stabilize at $ 36.6 or $ 35.2 before resuming its trajectory towards the north. Augur projected bullish behavior, while Enjin Coin was inclined to break north of a bearish wedge.
Source: LINK / USD, TradingView
With accumulated returns of 215% in the year, Chainlink has had a solid performance in 2021 so far. The price has been particularly high since the end of March and a flight from a symmetrical triangle has driven the price to a new ATH slightly above $ 38. The RSI reversed the direction of the overbought zone and suggested some stability for LINK before the next high. This could occur at the support level of $ 36.6 or $ 35.2.
The Squeeze Momentum Indicator highlighted a bullish market with high volatility. After the small drop, LINK’s upward trend would likely see levels above $ 45 in the coming weeks.
Source: REP / USD, TradingView
A break above a major resistance point at $ 44.4 boosted northern Augur within 4 hours and the price peaked at $ 58. Since then, the price has changed within a downward channel and a break has pushed REP above the $ 50 mark again. However, market conditions at the time of this writing were neutral and traders were advised to wait and observe before the next fluctuation.
The RSI scored 50 and neither side dictated the move. Awesome Oscillator was bearish-neutral and momentum looked weak. This suggested some upward movement before the breach took place. As soon as the move to the north occurs, the levels to watch for include resistance lines at $ 53.27 and $ 57.15.
Enjin Coin [ENJ]
Source: ENJ / USD, TradingView
In the 4-hour time interval, Enjin Coin moved into a falling wedge and a breakout seemed likely from the pattern. However, the indicators have taken a bearish stance and ENJ may see lower levels before the recovery takes place.
In fact, the MACD was at risk of falling below the midline and its histogram showed growing red bars. OBV made lower highs and highlighted the sale in the ENJ market. A strong level of support was at $ 2.65 and the price would likely see a break before it touches this point. If the price moves below the mentioned support, an extended bearish scenario may be possible.