Chainlink (LINK) dropped from the $27 resistance due to profit-taking but is holding support near $24. If it rebounds from the 20-day EMA at $21.49, bulls may retest $27 and potentially drive the price up to $31 or even $36. However, a break below the 20-day EMA could push LINK down to the 50-day SMA at $17.97. On the 4-hour chart, bulls are defending the moving averages if successful, another move toward $27 is likely. A break below the 50-SMA, however, may lead to a fall toward $21.
