The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
In late July, a test of the mid-range forced Chainlink to pull back to the $7.15 area. The price was able to break past this resistance decisively in August. During this surge, it also flipped the $7.75 mid-range value to support. The daily Relative Strength Index was not yet above the neutral 50 mark. Hence, per the indicator, the momentum still lay on the bearish side.
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