Bitcoin

Resistance

Chainlink

Chainlink’s LINK price is struggling to surpass the $13.80 resistance. The price could continue to move down if it breaks the $13.00 support. 
<ul> 
 <li>Chainlink price is showing bearish signs below the $14.00 resistance against the US dollar.</li> 
 <li>The price is trading below the $13.60 level and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken).</li> 
 <li>The price could start a decent increase if it clears the $13.80 resistance zone.</li> 
</ul> 
<h2 id="chainlink-link-price-turns-red">Chainlink (LINK) Price Turns Red</h2> 
In the past few days, Chainlink saw a steady decline from well above the $13.80 level. LINK price declined below the $13.50 support level to enter a short-term bearish zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-stuck-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-repeat-3200/" target="_blank" rel="noopener ">Ethereum</a>. 
The price tested the $13.10 support zone. A low was formed at $13.07 and the price recently attempted a recovery wave. There was a move above the $13.50 level. It even jumped above the 23.6% Fib retracement level of the downward move from the $14.30 swing high to the $13.07 low. 
However, the bears were active below the $13.80 resistance and the 50% Fib retracement level of the downward move from the $14.30 swing high to the $13.07 low. LINK price is still trading below the $13.80 level and the 100 simple moving average (4 hours). 
Immediate resistance is near the $13.50 level. There is also a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-607883 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461" alt="Chainlink (LINK) Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/LINK-Price-Chainlink.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next major resistance is near the $13.80 zone. A clear break above $13.80 may possibly start a steady increase toward the $14.00 level. The next major resistance is near the $14.35 level, above which the price could test $15.50. 
<h2 id="more-losses">More Losses?</h2> 
If Chainlink’s price fails to climb above the $13.50 resistance level, there could be a fresh decline. Initial support on the downside is near the $13.10 level. 
The next major support is near the $12.80 level, below which the price might test the $12.20 level. Any more losses could lead LINK toward the $11.50 level in the near term. 
Technical Indicators 
4 hours MACD – The MACD for LINK/USD is gaining momentum in the bearish zone. 
4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now below the 50 level. 
Major Support Levels – $13.10 and $12.80. 
Major Resistance Levels – $13.50 and $13.80.

Chainlink’s (LINK) Outlook Grows Bleak: Signals of Bearish Continuation Surface

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