Chainlink LINK Recovers from 14.4% Drop, Establishes New Support Zone
Chainlink (LINK) experienced a price recovery after a 14.4% drop, finding support at $13.58. The asset showed an increase of 1.4% in the last 24 hours, aligning with the broader market, where the CoinDesk 20 Index rose by 1.1%. Key points include:
- Correction from $13.972 to $13.557 followed by recovery supported by high volume.
- Resistance noted between $13.960 and $13.970 with increased selling pressure.
- A breakout occurred at 10:00 UTC with significant trading volume (1,061,645 LINK).
- New trading range established at $13.800-$13.950 indicates potential continuation of upward movement.
- V-shaped recovery pattern formed, with strong buying activity around the $13.785-$13.790 support zone.
- The $13.830-$13.840 range is now a potential new support zone for further gains.