Both the on-chain metrics and the maps painted a positive picture for Chainlink. VeChain was trading just below a degree of resistance at $0.094, with another change down to $0.087 possible. Chiliz was under relentless selling pressure as bulls tried to defend $0.047.
Chainlink has gained steadily over the last week, forming a right-angled, ascending broadening trend at the $26.26 support stage before breaking out upwards. The OBV suggested that buyer appetite was present and growing, whilst the MACD verified the bullish momentum behind LINK’s rally.
There is a supply area at $34.8-$35.6, making this a take-profit amount on any long positions that have already been reached.
Using the Gann fan for VET, it is clear that the 2:1 time-to-price line served as help and was broken when VET entered a process of restructuring that it has yet to climb out of.
The RSI was 64, and the Stochastic RSI was overbought, and VET was trading slightly below resistance at $0.094. VET will continue its next upward step if it can climb above this value and flip it to help.
If VET is rejected at resistance, it will fall back to $0.087, and its next step could find help from the 3:1 line and advance towards $0.1.
CHZ has pulled back to test $0.47 as support many times since its rally to $0.94. In recent weeks, the $0.5-$-0.56 area has served as a supply zone.
After a quick ascent to $0.94 in the previous month, the Accumulation/Distribution Line was slowly going lower, suggesting selling pressure on CHZ. The Chaikin Money Flow was also less than -0.05, indicating that capital was exiting the economy.
If CHZ bulls want to push a step back towards ATH, they must protect the $0.47 help. This scenario would be supported by a strong rise above $0.55 on high volume.
If CHZ falls below $0.42, it will most likely undergo a deeper correction to the $0.26-$0.29 range.
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