Chainlink Faces Pivotal Technical Levels as Analysts Signal Bullish Turnaround
24.03.2025 13:13
MakroVision, a cryptocurrency analytics firm, has identified key technical levels for Chainlink (LINK) amid its recent price congestion following a local peak in December. The analysis outlines that LINK, currently trading around $14.34, is at a crossroads where structural support is balancing against potential breakout momentum. Specifically, the firm points to a test zone between $16.5 and $17.3 that aligns with previous support, a strong resistance area between $20.2 and $21.7 which, if breached, could lead to a rally into the upper trading range, and a crucial support level at $12.6 that might signal a bullish turn if maintained. This detailed technical roadmap provides investors with insight into potential future price movements and highlights the $17 mark as a key short-term turning point.
The news portrays a positive outlook for LINK due to clearly defined support and resistance levels. Short-term, the $17 region acts as a pivotal point where buying interest may be reignited if the price holds above the support level at $12.6, potentially triggering upward momentum. A breakthrough above the resistance band of $20.2-$21.7 could lead to a rally towards higher trading ranges. Historical trends suggest that similar technical setups have resulted in significant price surges post-breakout, reinforcing the market's potential for a bullish turnaround. Investors monitoring volume, relative strength, and price action around these levels may see immediate gains, while longer-term prospects depend on sustained technical support and broader market sentiment.
Top Today
today / 04:35
Trump-Linked WLF Partners With Pakistan Crypto Council to Boost Blockchain and DeFi Ambitions
WLF's new collaboration with the Pakistan Crypto Council is set to stimulate regulatory and technological growth in Pakistan's crypto sector.
today / 02:24
Ethereum Eyes $2,580 as Leadership Dialogue Spurs Bullish Momentum
Vitalik Buterin’s and Charles Hoskinson’s exchange drives renewed bullish sentiment for Ethereum’s near-term rally.
yesterday / 22:03
Bitget Initiates Legal Action Over $20M VOXEL Manipulation Incident
Eight accounts face legal scrutiny over VOXEL trade manipulation, prompting calls for better risk control and regulatory oversight.