hainlink's price broke above consolidation well before the apex, showcasing strong bullish momentum.
Upon reaching a key resistance zone between $18.3 and $19, the token encountered significant bearish pressure.
On the 4-hour chart, the price surged but now hovers within the consolidation zone.
Recently, Chainlink (LINK) breached the upper boundary of the Ichimoku cloud on the daily timeframe, situated approximately at $17.20.
This breakout signals bullish potential, implying further upward movement if sustained.
According to Coingabbar analysis, If Bulls successfully defend the $18 support level, a bullish resurgence could propel prices beyond $21.
Failure to surpass $19 may lead to a decline in LINK's price, potentially dropping to $15.50.
KEY LEVELS :
RESISTANCE LEVEL : $20.000-$23.000
SUPPORT LEVEL : $16.000-$13.000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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