altFINS

Chainlink

Rekt

<p><strong>Chainlink’s LINK token has seen a bounce back over the last few days, trading above the $14 mark after finding support around $13. However, LINK faces some key resistance levels that could limit further gains in the short-term.</strong></p>
<p><a href="https://x.com/rektcapital/status/1725972282852458742?s=20" target="_blank" rel="noopener noreferrer nofollow">According</a> to popular crypto analyst Rekt Capital, LINK is currently failing to retest weekly close above a key red resistance region. If unable to close above this level, Rekt Capital notes that the zone could turn into strong resistance and force LINK to retest downtrend support.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="726" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-1024x726.png" alt="" class="wp-image-380635" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-1024x726.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-300x213.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-767x544.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-1536x1089.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-2048x1452.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-140x100.png 140w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-212x150.png 212w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-100x71.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-494x350.png 494w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488-788x558.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-488.png 1786w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>On the daily chart, RSI readings are elevated around 67 which suggests LINK is getting overbought in the short-term. Some pullback from current levels is likely needed before LINK can make a renewed push higher.</p>
<p>Analytics firm <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true">altFINS</a> remains bullish on LINK’s long-term prospects, noting its position as a leading oracle data provider should allow it to benefit from growing demand for real-world asset tokenization. However, altFINS points out that the strong rally from under $11 to over $14 in early November has left LINK very overbought.</p>
<p>Profit-taking led to a pullback which altFINS views as a potential swing entry opportunity within the uptrend. Key upside targets are seen at $18 and then psychological resistance around $19.50.</p>
<p>In summary, while Chainlink’s fundamentals remain strong, the technical picture suggests some consolidation or minor downside is likely in the coming days and weeks. Key support to watch is around the $13 level, while resistance is seen around $14.50 and $15. Patient traders may look to buy any dips as LINK builds a base before its next leg higher.</p>
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<p>The post <a href="https://captainaltcoin.com/bulls-take-chainlink-link-price-above-14-but-analysts-caution-overbought-conditions-heres-why/" rel="noopener noreferrer nofollow">Bulls Take Chainlink (LINK) Price Above $14 But Analysts Caution Overbought Conditions – Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bulls Take Chainlink (LINK) Price Above $14 But Analysts Caution Overbought Conditions – Here’s Why

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