Chainlink Encounters Key Resistance Levels Amidst Potential Price Surge

Chainlink Encounters Key Resistance Levels Amidst Potential Price Surge

Chainlink encounters key resistance levels amidst a potential price surge. If LINK breaks through the $13.80 resistance zone, it could spark a strong upward momentum.

Chainlink’s LINK token faces a tough challenge in surpassing the $13.80 resistance level. Should the support at $13.00 break, it might trigger a further downward movement. The price of Chainlink against the dollar shows signs of decline, particularly below the $14.00 resistance level, with the current price at $13.41.

In recent days, Chainlink has seen a consistent decline, struggling to move above the $13.80 level. This mirrors the trend seen in other major cryptocurrencies like Bitcoin and Ethereum, where LINK’s price dipped below the $13.50 support level, hinting at a short-term bullish trend.

The price even tested the $13.10 support zone, reaching as low as $13.07, before experiencing a brief recovery that pushed it above $13.50. However, bears are still active below the $13.80 resistance, keeping LINK below this critical level.

Immediate Resistance

The immediate resistance lies near $13.50, with the LINK/USD pair’s 4-hour chart showing a noticeable downtrend line around this level. The next major hurdle is at the $13.80 zone, and a decisive break above this could initiate a steady rise toward $14.00.

Failure to breach the $13.50 resistance level could signal a new downtrend for Chainlink. The initial support stands at $13.10, with further declines potentially targeting the $12.80 level and, subsequently, $12.20. A deeper decline could see LINK heading towards $11.50 in the near future.

Technical Analysis

Technical analysis indicates that the 4-hour MACD indicator is gaining momentum in the bearish zone for the LINK/USD pair, suggesting a possible downtrend. Additionally, the 4-hour RSI is currently below the 50 level, indicating ongoing selling pressure.


To conclude, Chainlink encounters key resistance levels, particularly at $13.80, which is crucial for any potential price surge. Failure to break above this resistance could lead to further declines, with support levels at $13.10, $12.80, and possibly $12.20. Traders are closely watching for a decisive move above $13.80, which could trigger a strong upward momentum towards $14.00.

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