Chainlink Gains 21% Amid Market Uncertainty, Approaches Key Resistance Levels
Chainlink (LINK) has increased by 21% since its Sunday lows, demonstrating resilience amid a volatile macro and geopolitical environment. Key points include:
- Strong partnerships and on-chain fundamentals support LINK's price movement.
- Analyst Henry Lord notes rising volume and volatility, indicating a potential end to the accumulation phase.
- LINK remains in a consolidation range, with a breakout above key resistance necessary for upward momentum.
- Currently trading over 25% below its May high due to broader market uncertainties.
- A breakdown below current levels could lead to deeper corrections.
- Link’s recent rebound from $11.50 to above $13.20 shows early signs of a trend reversal.
- The price is testing the 100-day simple moving average at around $14.65; a break above this level could target $17–$18.
Overall, while Chainlink shows signs of recovery, traders remain cautious as confirmation of a breakout is still required.
