Chainlink Tests $12.50 Support Amid Weekend Volatility Concerns
Chainlink is currently testing the $12.50 support level following a bearish close. Liquidity is expected to be low over the weekend, leading to potentially choppy price movements. Key points include:
- LINKUSDT and LINKBTC daily candles closed bearish, indicating sensitivity to Bitcoin's performance.
- LINKBTC is in oversold territory, suggesting a possible reversal could occur.
- A bullish reversal from $12.50 is critical for establishing upward momentum.
- If buyers regain control, resistance levels at $16 and $19.50 are significant targets.
- The upcoming weekend’s Bitcoin price action will heavily influence Chainlink's movement.
In the immediate outlook, LINK’s intraday chart shows notable volatility. A breakout above $12.85 could shift sentiment positively, targeting $14.40. Conversely, failing to hold this level may result in renewed selling pressure.
