ChainLink vs TetherUS (LINK) Distribution

Chainlink vs TetherUS (LINKUSDT) seems to be in a distribution phase.

We have lower highs, prices moving below EMA50, the MACD entering the bearish zone and the RSI going bearish below 50... This can all signal lower prices.

The next support is set at MA200 at 8.28.
This is close to the 0.618 Fib. retracement level at 8.52.

The next move will depend on how this level is handled.

Additional details on the chart.

Thanks a lot for reading.

Namaste.