Resistance

Chainlink

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/can-chainlink-overcome-resistance" rel="noopener noreferrer nofollow">Can Chainlink Overcome Resistance?</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/chainlink-whales-on-the-move-significant-accumulation-detected" rel="noopener noreferrer nofollow">Chainlink</a>’s LINK token is encountering significant resistance at the $13.80 mark, making it challenging to generate upward momentum. Presently priced at $13.41, LINK needs to maintain its $13.00 support level to avoid a downward trajectory. If LINK breaches the $13.80 resistance, it may initiate a strong upward trend.</p>
<h2 id="what-are-chainlink-s-immediate-challenges">What Are Chainlink’s Immediate Challenges?</h2>
<p style="text-align: justify">In recent sessions, Chainlink has seen a downward trend, struggling to hold the $13.80 resistance. The token’s <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">price</a> has slipped below $13.50, a level that was crucial for sustaining a short-term bullish outlook. Testing at $13.10, the price briefly recovered to above $13.50, but bears are still active below $13.80, keeping LINK under pressure.</p>
<p style="text-align: justify">Immediate resistance is identified near $13.50. The LINK/USD pair’s 4-hour chart reveals a significant downtrend line close to this level. A break beyond the $13.80 resistance could spark a rally towards $14.00, offering some respite to <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a>.</p>
<h2 id="will-chainlink-fall-if-13-50-resistance-holds">Will Chainlink Fall if $13.50 Resistance Holds?</h2>
<p style="text-align: justify">If LINK fails to breach the $13.50 resistance, a new downtrend could emerge. Currently, the primary resistance is pegged at $13.50. Failure to surpass this level may result in a pullback to the initial support around $13.10. A fall below this support could push the price further down to $12.80 and potentially to $12.20.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">– Immediate resistance is at $13.50, with $13.80 being a critical level for upward momentum.</p>
<p style="text-align: justify">– Potential support levels to watch are $13.10, $12.80, and $12.20.</p>
<p style="text-align: justify">– Technical indicators show bearish momentum, suggesting continued selling pressure.</p>
<p style="text-align: justify">– A breach of the $13.80 resistance could lead to a rise towards $14.00.</p>
<p style="text-align: justify">The technical indicators, including the 4-hour MACD and RSI, are currently bearish for LINK/USD. The MACD is gaining momentum in the bearish zone, while the RSI sits below 50, signaling persistent selling pressure. <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">Investors</a> should closely monitor these resistance and support levels to make informed decisions.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/can-chainlink-overcome-resistance" rel="noopener noreferrer nofollow">Can Chainlink Overcome Resistance?</a></h5>

Can Chainlink Overcome Resistance?

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