Chainlink (LINK) is trading at $15.61. The cryptocurrency has seen a slight increase of 0.23%, with an intraday high of $15.98 and a low of $15.28. In this analysis, we examine LINK’s price action on 4-hour, 1-hour, and 15-minute charts to identify key support and resistance levels while projecting the next potential price movement.
4-Hour Timeframe Analysis
On the 4-hour chart, LINK is testing the 100-period Exponential Moving Average (EMA), which serves as immediate support around $13.40. If the price holds above this level, it could indicate a potential recovery. Resistance on this timeframe is observed at $18.50, aligned with the 50-period EMA. A breakout above this resistance could push LINK toward the $19.50-$20.00 range.
1-Hour Timeframe Analysis
In the 1-hour timeframe, LINK is showing immediate support at $14.81, with a stronger support zone around $13.87. The resistance level to watch is $15.32, and if bulls maintain momentum, the next challenge is at $16.06. A sustained breakout above $16.06 could indicate a move toward $17.00 in the short term.
15-Minute Timeframe Analysis
For short-term traders, the 15-minute chart suggests that LINK has support at $15.26, while immediate resistance lies at $20.35, followed by $20.79 and $21.55. A break above these levels could trigger a rapid bullish move toward $22.50.
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Projected Next Price Action for LINK
Based on current technical indicators, LINK needs to break above $15.32 in the short term to confirm a bullish continuation. If buyers push the price beyond $16.06, the next upside target would be around $19.14, which aligns with the 0.618 Fibonacci retracement level.
However, if LINK fails to hold above $14.81, a drop toward $13.87 is possible before another bullish attempt. Traders should watch volume levels and market sentiment closely before making trading decisions.
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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