ChainLink (LINK) Price Analysis and Prediction 2019 – Dangerously Close To Break A Sturdy Resistance (May 19th UpdatE)

Article structure notification: the article is divided in three sections. First section is focused on short-term, technical and speculative analysis of the project – this is regularly updated part of the article. Second section is focused on general market and sentiment analysis and third section is focused on the long-term, fundamental analysis and future prediction of the project – this is occasionally updated part of the article.

Mid May Update: Technicals

4H LINKBTC

LINK had a nice run after penetrating the Fib50 at 11900 but it got tripped at the next Fib level of Fib618, at 12791. This area was captured for a brief time but LINK then retraced to the current level, hovering right around this Fib height. If it breaks this level, the target would be 15595, a local high from January.

All moving averages are aligned perfectly for a bull run.

The breakdown level is at 9925 at Fib236 – if Link fails to hold this level, it will stoop back to the local bottom at 8127 sats.

Daily LINKBTC

LINK has officially reversed the intermediate trend as it crossed the falling trendline and closed a daily candle above it.You can see that all three moving averages are bunched up together, which is usually a sign of an impending strong move. Should the near-term bullish trend resume, MA50 needs to get above the MA200 as it just barely dipped below it.

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Link has a weak trading volume that is also misreported and inflated by 1.7x – real volume is $12.1M and reported is $21.4 million in the last 24 hours. That is not too big of a overstatement for the crypto market, but both figures are very low considering that its neighboring coins in the market cap rankings, have at least double of its volume.

Moreover, LINK has a somewhat strong buy support,…

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