Chainlink Consolidates Around $15 as Buy Signal Emerges
Chainlink (LINK) is currently consolidating around $15, showing strength despite resistance near this level. Key points include:
- LINK has risen over 50% from April lows.
- Top analyst Ali Martínez reported a buy signal from the SuperTrend indicator on LINK’s daily chart.
- A breakout above the $16 resistance level could lead to significant upside, especially with a broader altcoin rally.
- Current macroeconomic conditions pose risks, particularly due to rising global tensions between the US and China.
As of now, Chainlink is trading at $15.10, approaching critical resistance at $16. Maintaining levels above $16 could confirm a bullish trend, while failure to do so may trigger declines towards support levels at $14 or lower.
The importance of the 200-day moving average and exponential moving average is noted, with both positioned in the $16–$17 range serving as dynamic resistance. A clear break above these indicators could facilitate higher targets for LINK.
