Chainlink (LINK) is currently trading at $13.78, reflecting a 4.04% decline in the last 24 hours. With price fluctuations between $13.57 and $14.39, LINK’s market structure remains bearish, and its next move hinges on key support and resistance levels.
Technical Analysis Overview
Short-Term (Intraday)
- LINK faces selling pressure, struggling to sustain gains above resistance.
- Minor rebounds indicate potential accumulation at lower levels.
Mid-Term (Daily)
- The downtrend persists within a defined bearish channel.
- Momentum indicators suggest possible consolidation before a decisive move.
Long-Term (Weekly)
- The broader trend remains bearish, with no confirmed reversal.
- A sustained breakout above resistance could shift sentiment.
Key Support and Resistance Levels
Support:
- $12.60 – A critical level that could prevent further downside.
- $10.00 – A strong historical support zone.
Resistance:
- $15.00 – Needs to be cleared for short-term recovery.
- $19.50 – A breakout above this could confirm a trend reversal.
Indicators and Market Sentiment
- RSI: Neutral, indicating no strong buying or selling pressure.
- Moving Averages: Bearish across time frames, signaling caution.
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Price Prediction and Next Move
If LINK holds above $12.60, it may rebound toward $15.00. However, a drop below this level could push the price toward $10.00. A break past $15.00 could open the path toward $19.50.
LINK is at a pivotal stage, with traders closely watching key levels for confirmation of the next trend. Caution and strategic positioning remain essential as the market unfolds.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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