LINK — Time To Shine

Chainlink crashed through the crucial long-term support level at $13 during the latest correction. This level has served as support since November 2023.

Fortunately, LINK reconquered the level after a few days and rallied ~15% until it got rejected at $14.5. Moreover, the token managed to break out of its short-term downtrend from its local high at the end of May.

However, to create a stronger bullish momentum, LINK has to follow through and clear the following levels:

1️⃣ EMA200: This important indicator is currently located at ~$15 and represents the first level to break.
2️⃣ Afterward, LINK has to tackle the resistance at $16. This might be much harder compared to the EMA200.
3️⃣ Making a higher high, which results in a level above $18.8

ben_walther

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