Chainlink Retests Key Support Level, Bullish Momentum Builds
Chainlink (LINK) shows potential for upward movement after a bounce off a crucial support level. This retest indicates a solid foundation for future price action.
- Chainlink breaks out of a falling wedge pattern, suggesting bullish momentum.
- Increased trading volume supports the breakout, indicating strong buyer interest.
- A confirmed breakout and successful retest could lead to significant price increases.
Key resistance levels are:
- $15.40
- $17.50
- $20.00
- $23.80
- $26.50
Downside risks include:
- First support at $12.50; a breakdown may indicate deeper corrections.
- Next critical level at $11.10; breaching this could lead to retesting $9.28.
