Chainlink recently found himself at a critical moment, supporting the lower limit of a channel descending several months after having slipped from its range. With the current price at $ 11.82 and a slight decrease in market capitalization to $ 8.01 billion, market players are watching closely with signs of a trend reversal. If you are one of the many, who wishes to analyze the channel prices, then it is an essential reading for you.
Price analysis (link) (link):
The Link daily price table reveals that the token has formed a rounded basic model after testing the support of around $ 11.00. This rebound, associated with a slight gain of the day, alluded to the beginning of the bullish momentum in the background.
Technically speaking, Bollinger’s bands have widened and Link has now started to bounce back from the band less than $ 11.51, moving to the midline at $ 13.36. A sustained movement above $ 12.00 could open the door to a race to the resistance area from $ 13.20 to $ 13.50.
If the buyers maintain the pressure, the connection could break above the resistance at $ 13.36 in the middle of Bollinger. However, non-compliance with $ 11.50 could trigger another leg downwards, releasing the support area of $ 11.00.
The RSI is currently at 33.63, just above the territory of occurrence. This suggests that the asset can be undervalued at current levels and could attract drop buyers. In addition, the RSI seems to be flat, showing signs of potential ascending momentum.
Also read our Prix prediction ChainLink (link) 2025, 2026-2030!
Faq
Chainlink shows the first signs of a bullish reversal after rebounding long -term support.
If Momentum continues, Link could target the resistance zone from $ 13.20 to $ 13.50.
The price of the 1Link token at the time of the press is $ 11.82 with an intraday price variation of 0.39%.
