Crypto analyst Rekt Capital has shared his newsletter examining the market trends for Chainlink (LINK) and SUI. The analysis highlights key support and resistance levels for both assets, offering insights into their recent price movements and potential future trajectories.
I've published a new Altcoin Newsletter I share my charts & analysis on 6 AltcoinsThese Altcoins are $LINK $SUI $AERO $FTM $BONK $DOTI share an Altcoin Newsletter like this every FridaySign up & read here:https://t.co/rBAg9mdfb4#BTC #Crypto #Bitcoin
— Rekt Capital (@rektcapital) July 12, 2024
Chainlink Shows Resilience Amid Pullback
Rekt Capital’s examination of Chainlink’s quarterly chart reveals an intriguing development. Despite a recent pullback, LINK maintains its macro uptrend that began after breaking out of a long-term accumulation range.
The analyst notes that LINK has been retracing for two quarters, finding support in a weighty zone.
“This area previously acted as resistance in mid-2020 and Q3 2020,” Rekt Capital points out. Interestingly, this former resistance may now serve as crucial support for Chainlink.
While LINK has initially retested the top of this support area earlier in the current quarter, Rekt Capital suggests that further retesting may occur in the coming months. This behavior could indicate a potential consolidation phase before the next move.
New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Show less – SUI Navigates Key Price Levels
Turning attention to SUI, Rekt Capital identifies critical price levels that may influence its future trajectory. The analysis centers on a light blue support level and a black resistance level at $0.97.
Currently, SUI is finding support at the light blue level, which could pave the way for upward momentum. However, the analyst cautions that SUI recently lost the $0.97 level as support, closing below it last month.
“If SUI rebounds but rejects at the black level, it would confirm a new resistance,” Rekt Capital explains. This scenario could significantly impact SUI’s short-term price action.
Read also: Expert Draws Out Path for Bitcoin (BTC) and Altcoins Recovery: Reveals Key Timelines
Conclusion
Rekt Capital’s analysis of Chainlink and SUI provides the price trajectory of two notable crypto assets in the market. While LINK shows resilience in its macro uptrend despite recent pullbacks, SUI goes through a potentially new trading range.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Chainlink’s LINK Maintains Macro Uptrend as SUI’s Price Faces Critical $0.97 Level: Expert Analysis appeared first on CaptainAltcoin.
