- LINK fell to $13.50 before reversing upward, marking a clear shift from bearish pressure to bullish sentiment.
- Strong green candlesticks and increased volume drove price upward, retesting the $14.50–$15.00 resistance zone with bullish conviction.
- LINK surged above the Bollinger midline; RSI at 63.28 and MACD crossover confirm strong bullish technical momentum.
- Support lies at $13.70 and $13.15; resistance at $14.60 and $15.00 could trigger a breakout or pullback.
Chainlink (LINK) is trading at $14.67, with a 24-hour volume of $295.28B and a market cap of $9.56B. Since the last 24 hours, the price of LINK has gone up by 4.45%, and although its price has not changed within the last week, strong prospects are pointing toward further growth.
Over the last week, the price of LINK (Chainlink) exhibited a definite trend of an initial drop with a strong subsequent recovery. Early on, the price was on a sustained downtrend as indicated by a series of consecutive red candlesticks and declining lows, which is a sign of intense selling pressure and dwindling market optimism.
This downtrend came to a low at around the $13.50 support mark. But soon after that, there is a discernible change as green candlesticks emerge with indications of consolidation and a likely turning-around point.
Chainlink Shows Market Turnaround Potential
Toward the end, the momentum had unquestionably turned bullish, with a string of large green candlesticks taking the price strongly upward to revisit the resistance area of $14.50–$15.00. The accompanying volume on the up move also rose, which confirmed the recovery strength.
Overall, the chart indicates a dramatic market shift, but the question at hand should be whether the price is able to break and hold up over the resistance zone or whether it experiences pullback pressure before resuming its next trend.
The 4-hour chart on LINK (Chainlink) signals a strong bounce back from a long downtrend, with the price currently at around $14.52. This breakout upward is substantiated by several different indicators, most importantly, that LINK has moved higher than the middle Bollinger Band and is moving toward the higher band, which indicates increased volatility and strong upward momentum.
Immediate Resistance Near $14.60, $15.00 for LINK
The RSI is at 63.28, registering strength that is bullish yet remains beneath the overbought area, with room for continued upward momentum before reaching potential exhaustion.
Also, the MACD has recently registered a bullish crossover with the MACD line breaking to the upside of the signal line and green histogram bars widening, signaling the momentum has turned from being bearish to being bullish.
Key levels of support are at $13.70 and $13.15, with near-term resistance at $14.60 and psychological resistance at close to $15.00. The overall chart indicates a strong trend reversal with good technical support behind it, although traders should be on the lookout for potential resistance issues or signs of being overbought when the rally is prolonged.
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