Chainlink Price Hits Critical Support Level at $9.65
- Support Level Retest: Chainlink (LINK) price has retraced to the historical support zone at $9.65 after an aggressive corrective move, a level that has been defended multiple times in past market cycles, highlighting its significance.
- Market Sentiment Shift: Following the loss of the key $21 value area, LINK swiftly rotated lower into lower liquidity zones, indicating a lack of meaningful demand in this price range, further emphasizing the strategic importance of $9.65 as a potential bounce point.
- Psychological Price Impact: The $9.65 area serves not only as a technical support but also carries psychological importance due to its frequent historical interactions, attracting attention from long-term buyers and increasing the likelihood of a short-term rally.
- Clear Future Targets: If LINK can hold above $9.65 and attract sustained buying interest, the next targets are clearly defined, with the first being near the Point of Control (POC), followed by the $21.07 resistance level, which will be a significant test for any recovery attempt.
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Technical Analysis for LINK
Technical Sentiment Analysis for Chainlink (LINK) As of , Chainlink (LINK) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for LINK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, LINK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Chainlink (LINK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 3.247 | 5.198 | 7.267 | 9.218 | 11.287 | 13.238 | 15.307 |
| Fibonacci | 5.198 | 6.734 | 7.683 | 9.218 | 10.754 | 11.703 | 13.238 |
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