Chainlink Tests Critical $13 Support Level Amid Recovery Hopes
Chainlink (LINK) is trading 27% above its March 11 low, indicating a potential recovery amid market volatility. Key points include:
- Current price is $14.30, below critical resistance at $15.
- Testing support around $13, aligning with a long-standing price channel.
- If LINK holds above $13, historical trends suggest a rally towards $25 and potentially $50.
- LINK has fallen over 61% from a mid-December high of approximately $30.
- A breakout above $15 could attract more buyers and lead to short-term gains.
Market sentiment remains mixed, with analysts cautious about possible further declines. A drop below $13 may lead to lower support levels around $12. Traders are closely monitoring LINK's ability to maintain support and initiate an upward trend.
