Chainlink’s LINK price is holding the $5.75 support zone. The price could start a fresh increase if it clears the $6.25 resistance zone.
Chainlink token price is showing positive signs above $6.0 against the US dollar.
The price is trading above the $6.05 level and the 100 simple moving average (4 hours).
There is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK/USD pair (data source from Kraken).
The price could gain bullish momentum above the $6.25 resistance zone.
Chainlink (LINK) Price Eyes Fresh Recovery
After a major decline, LINK price found support near the $5.75 zone against the US Dollar. A low was formed near $5.74 and the price is now attempting a recovery wave, like Bitcoin and Ethereum.
There was a decent move above the $5.85 and $6.00 levels. LINK is now trading above the $6.05 level and the 100 simple moving average (4 hours). However, there are many hurdles on the upside starting with $6.10. Besides, there is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK/USD pair.
The current price action suggests that the price is struggling near the trend line and $6.10. The first major resistance is near the $6.25 zone. It is close to the 23.6% Fib retracement level of the downward move from the $7.91 swing high to the $5.74 low.
Source: LINKUSD on TradingView.com
A clear break above $6.25 may possibly start a fresh increase toward the $6.65 and $6.80 levels. The next major resistance is near the $7.10 level, above which the price could revisit $7.50.
Another Decline Losses?
If Chainlink’s price fails to climb above the $6.25 resistance level, there could be a downside extension. Initial support on the downside is near the $6.00 level.
The next major support is near the $5.75 level, below which the price might test the $5.60 level. Any more losses could lead the price toward the $5.35 level in the near term.
Technical Indicators
4 hours MACD – The MACD for LINK/USD is losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level.
Major Support Levels – $6.00 and $5.75.
Major Resistance Levels – $6.25 and $6.80.
Trang này có thể chứa nội dung của bên thứ ba, được cung cấp chỉ nhằm mục đích thông tin (không phải là tuyên bố/bảo đảm) và không được coi là sự chứng thực cho quan điểm của Gate hoặc là lời khuyên về tài chính hoặc chuyên môn. Xem Tuyên bố từ chối trách nhiệm để biết chi tiết.
LINK Price Prediction: Chainlink Needs To Clear $6.25 For Hopes of a Fresh Rally
Chainlink’s LINK price is holding the $5.75 support zone. The price could start a fresh increase if it clears the $6.25 resistance zone.
Chainlink (LINK) Price Eyes Fresh Recovery
After a major decline, LINK price found support near the $5.75 zone against the US Dollar. A low was formed near $5.74 and the price is now attempting a recovery wave, like Bitcoin and Ethereum.
There was a decent move above the $5.85 and $6.00 levels. LINK is now trading above the $6.05 level and the 100 simple moving average (4 hours). However, there are many hurdles on the upside starting with $6.10. Besides, there is a key bearish trend line forming with resistance near $6.10 on the 4-hour chart of the LINK/USD pair.
The current price action suggests that the price is struggling near the trend line and $6.10. The first major resistance is near the $6.25 zone. It is close to the 23.6% Fib retracement level of the downward move from the $7.91 swing high to the $5.74 low.
Source: LINKUSD on TradingView.com
A clear break above $6.25 may possibly start a fresh increase toward the $6.65 and $6.80 levels. The next major resistance is near the $7.10 level, above which the price could revisit $7.50.
Another Decline Losses?
If Chainlink’s price fails to climb above the $6.25 resistance level, there could be a downside extension. Initial support on the downside is near the $6.00 level.
The next major support is near the $5.75 level, below which the price might test the $5.60 level. Any more losses could lead the price toward the $5.35 level in the near term.
Technical Indicators
4 hours MACD – The MACD for LINK/USD is losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level.
Major Support Levels – $6.00 and $5.75.
Major Resistance Levels – $6.25 and $6.80.