Chainlink Price Holds $12 Support, Double Bottom Pattern Develops
- Support Zone Analysis: Chainlink's current price is firmly holding at the $12 high-time-frame support zone, which aligns with the value area low and Point of Control, indicating strong buyer defense and suggesting a base-building phase in the market.
- Double Bottom Formation: The developing double bottom pattern could signal a potential breakout towards the $19 resistance level, and if confirmed, it would mark a macro trend shift, boosting market participant confidence.
- Market Structure Dynamics: Although currently in a broader downtrend, maintaining the $12 support level provides buyers with an opportunity to improve risk-reward conditions, increasing the likelihood of a reversal structure if prices stay above this level.
- Future Price Expectations: A confirmed breakout would open the door for a move towards the $19 region; however, failure to reclaim resistance would keep Chainlink range-bound, delaying any macro trend change.
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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 | 3.241 | 5.195 | 7.261 | 9.215 | 11.281 | 13.235 | 15.301 |
| Fibonacci | 5.195 | 6.731 | 7.68 | 9.215 | 10.751 | 11.7 | 13.235 |
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