LINK / USDT - PERP - [BINANCE} [SHORT}
Updated
LINK Surges To Three-Months High But Now Facing Important Resistance. Chainlink Price Analysis
Key Resistance Levels:
$4.9, $5.5, $6
Key Support Levels:
$4.3, $3.5, $3
After a full recovery from March collapse, Chainlink paused and consolidated for almost five weeks due to low trading volatility. But now, it is beginning to show strength again after rising by 7% over the past hours.
Owing to the fact that Bitcoin is struggling around $9500 for days now, Link just found a break above its key holding resistance level at $4.3. The breakout still appears shaky but more gains could be expected if the daily candle closes above this line.
Apart from the green-marked demand area, Chainlink has further built dynamic support around the lower boundary of the channel, which suggests that volatility may increase anytime from now. It is currently changing hands at around $4.4 against the US Dollar.
Chainlink Price Analysis
Following the current breakout, Chainlink’s next targets would be $4.9 and $5, marked orange on the price chart. Once the price surpasses these levels, a new yearly high may come around $5.5 and $6.
As of now, the recent break level of $4.3 is acting as temporary support for Link. If it breaks, the price may drop slightly to $4. A fall below the channel may initiate selloff to $3.5 – the green demand area. The next after that is $3.
Key Resistance Levels:
$4.9, $5.5, $6
Key Support Levels:
$4.3, $3.5, $3
After a full recovery from March collapse, Chainlink paused and consolidated for almost five weeks due to low trading volatility. But now, it is beginning to show strength again after rising by 7% over the past hours.
Owing to the fact that Bitcoin is struggling around $9500 for days now, Link just found a break above its key holding resistance level at $4.3. The breakout still appears shaky but more gains could be expected if the daily candle closes above this line.
Apart from the green-marked demand area, Chainlink has further built dynamic support around the lower boundary of the channel, which suggests that volatility may increase anytime from now. It is currently changing hands at around $4.4 against the US Dollar.
Chainlink Price Analysis
Following the current breakout, Chainlink’s next targets would be $4.9 and $5, marked orange on the price chart. Once the price surpasses these levels, a new yearly high may come around $5.5 and $6.
As of now, the recent break level of $4.3 is acting as temporary support for Link. If it breaks, the price may drop slightly to $4. A fall below the channel may initiate selloff to $3.5 – the green demand area. The next after that is $3.
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