Resistance

Green

Chainlink

Chainlink’s LINK price is recovering from the $12.65 support. The price is gaining bullish momentum and might aim for a move above the $14.20 resistance. 
<ul> 
 <li>Chainlink price is showing bullish signs and eyeing more gains above $14.00 against the US dollar.</li> 
 <li>The price is trading above the $13.50 level and the 100-hourly simple moving average.</li> 
 <li>There was a break above a major bearish trend line with resistance near $13.60 on the hourly chart of the LINK/USD pair (data source from Kraken).</li> 
 <li>The price could extend gains if it clears the $14.20 resistance zone.</li> 
</ul> 
<h2 id="chainlink-price-turns-green">Chainlink Price Turns Green</h2> 
In the past few sessions, Chainlink saw a decent upward move from the $12.65 zone. There was a move above the $13.00 and $13.20 levels. LINK bulls are now attempting a steady upward move like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bottom-3240/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a clear move above the 50% Fib retracement level of the downward move from the $14.82 swing high to the $12.66 low. There was also a break above a major bearish trend line with resistance near $13.60 on the hourly chart of the LINK/USD pair. 
Chainlink is now trading above the $13.50 level and the <a href="https://www.newsbtc.com/analysis/link/chainlinks-ambitious-climb-link-15/" target="_blank" rel="noopener ">100-hourly simple moving average</a>. Immediate resistance is near the $14.05 level or the 61.8% Fib retracement level of the downward move from the $14.82 swing high to the $12.66 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-626225 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461" alt="Chainlink Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink_caa75b.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 $14.20 zone. A clear break above $14.20 may possibly start a steady increase toward the $14.50 level. The next major resistance is near the $14.80 level, above which the price could test $15.00. Any more gains might send the price toward the $15.50 resistance level in the coming sessions. 
<h2 id="are-dips-limited-in-link">Are Dips Limited In LINK?</h2> 
If Chainlink’s price fails to climb above the $14.20 resistance level, there could be a downside correction. Initial support on the downside is near the $13.80 level. 
The next major support is near the $13.65 level or the 100-hourly simple moving average, below which the price might test the $13.50 level. Any more losses could lead LINK toward the $12.90 level in the near term. 
Technical Indicators 
Hourly MACD – The MACD for LINK/USD is gaining momentum in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. 
Major Support Levels – $13.80 and $13.50. 
Major Resistance Levels – $14.20 and $14.50.

Chainlink Signals Upside Break: Analyzing LINK’s Bullish Indicators

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