Chainlink Maintains Momentum Above 200-MA – Key Levels in Play
$LINK

Current Price and Moving Average (MA):
LINK/USDT is trading around $11.68, currently sitting above the 200-period Moving Average (MA) positioned at $11.16. The price moving above this significant MA level indicates a positive shift in sentiment

The Relative Strength Index (RSI) is at 61.48, suggesting moderate bullish momentum. The RSI is comfortably above 50, indicating that buyers are in control, but it is still far from being overbought, which gives room for further gains without immediate concern of a correction.

The MACD also shows a positive scenario, with the MACD line above the signal line and the histogram showing increasing positive bars. This convergence confirms growing bullish momentum, though it will be important to see if it can maintain this upward strength

There is notable support between $11.00 and $11.20, as highlighted by the cluster data from the second chart. This range has been tested multiple times, forming a solid foundation for potential further moves upwards. On the resistance side, LINK faces a significant barrier at around $12.00, which could prove challenging without a strong breakout.

Bullish Scenario:
If LINK manages to maintain its momentum and break above the $12.00 resistance, the next targets could be around $13.00 or even $14.00. Continued positive sentiment, supported by rising RSI and a widening MACD divergence, would be required to make such a move.

Bearish Scenario:
If LINK fails to break the $12.00 resistance and buyers lose momentum, the price could retreat towards the support zone of $11.00-$11.20. A break below the 200-MA at $11.16 would be a bearish signal and could trigger a decline towards $10.00.

Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always perform your own due diligence and consider your risk tolerance before engaging in any trading activity.

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