Fun

Chainlink Tunrns Resistance Into Support – ATH Next?

News Feed - 2025-01-03 05:01:41

Este artículo también está disponible en español.


The crypto market showed signs of revival yesterday, with several assets experiencing significant price surges after weeks of subdued action. Chainlink (LINK) stood out, gaining over 15% in just 24 hours, solidifying its position as one of the stronger altcoins in the current environment. This sharp recovery highlights growing interest in LINK as market sentiment shifts. Related Reading Shiba Inu Testing A Significant Support Zone – Bullish Breakout Ahead? 2 days ago


Renowned analyst Jelle shared a technical analysis on X, revealing a critical development in Chainlink’s price action. According to Jelle, LINK has successfully flipped a key resistance level into support—a bullish signal that often precedes substantial upward momentum. This structural shift could pave the way for Chainlink to target higher price levels as it prepares to test crucial supply zones.


The market’s renewed energy and Chainlink’s ability to hold key levels suggest that the coming days could be pivotal. If the bullish momentum persists, LINK could soon challenge overhead resistance, setting the stage for a larger breakout. Amid this awakening market, Chainlink’s recent surge underscores its potential as a standout performer in the altcoin space. Chainlink Investors Waking Up


Chainlink has faced notable selling pressure since peaking at $30 on December 13, triggering a pullback that tested the resilience of its bullish structure. However, recent price action suggests a shift in momentum as bulls show signs of waking up. This could mark the beginning of a massive rally, according to analysts closely monitoring the market.


Top analyst Jelle recently shared a technical analysis on X, highlighting a crucial development in LINK’s short-term trend. According to Jelle, Chainlink appears to have flipped a key resistance level into support—a structural shift often seen as a precursor to significant upward movement. This bullish signal has reignited optimism among investors, with Jelle suggesting that LINK could target all-time highs in the near future if current momentum continues. Chainlink turned supply into demand | Source: Jelle on X


The key now lies in LINK’s ability to break through critical supply zones in the coming days. A successful breach of these levels could pave the way for an aggressive rally as buyers look to capitalize on renewed market strength. As the broader crypto market shows signs of recovery, Chainlink’s ability to reverse its recent downtrend positions it as a potential leader in the altcoin space.


Related Reading: Ethereum Stays Within Symmetrical Pattern – Analyst Sets ETH Target Testing Crucial Liquidity


Chainlink (LINK) is currently trading at $22.55, reflecting a strong bounce from local demand levels. The price is now testing a critical supply zone, which could determine its next major move. Encouragingly, LINK is trading above the 4-hour 200 EMA at $22.27, a key technical indicator that often signals bullish momentum when sustained as support. LINK testing the 4H 200 EMA | Source: LINKUSDT chart on TradingView


For bulls, holding this level is essential to confirm the continuation of LINK’s short-term uptrend. If LINK maintains support above the 200 EMA and builds momentum, the next significant hurdle lies at the $24 mark. Reclaiming this level in the coming days would likely trigger a massive breakout, opening the door for LINK to target higher resistance zones and potentially all-time highs. Related Reading Solana Holds Crucial Level – Can SOL Push Above $200? 2 days ago


However, failure to hold the 200 EMA as support could expose LINK to renewed selling pressure, pushing prices back toward local demand. Traders and investors are closely watching these technical levels, as the broader market recovery creates favorable conditions for altcoins to reclaim lost ground.


Featured image from Dall-E, chart from TradingView

News Feed

Tom Mitchelhill3 hours agoAtari founder, Animoca sees Web3 games as vital for virtual ownership and education"I was gobsmacked" — Nolan Bushnell said his conversation with Yat Siu on Web3 games changed his br
Argentinian Government Advances the Creation of a National CBDC
Argentinian Government Advances the Creation of a National CBDC The Argentinian government has taken the first steps in the launch of its own central bank digital currency (CBDC).
‘Cast a vote, but don’t join a cult’ — Edward Snowden at Bitcoin 2024
Turner Wright2 hours ago‘Cast a vote, but don’t join a cult’ — Edward Snowden at Bitcoin 2024The former National Security Agency contractor did not name any particular US or international lawmakers but warned man
Ezra Reguerra13 hours agoHow CBDCs and stablecoins can coexist: FIS panel discussionEetu Kuneinen argued against CBDCs, as they are “centralized by nature,” saying that certain dangers come with government control.14
Zhiyuan Sun5 hours agoCrypto liquidity provider GSR receives regulatory approval in SingaporeThe license allows GSR to provide crypto and fiat-related services to Singaporean residents and entities.1294 Total views15 Tot
Kim Kardashian and Floyd Mayweather Win Tentative Court Ruling in Ethereummax Lawsuit: Report
Kim Kardashian and Floyd Mayweather Win Tentative Court Ruling in Ethereummax Lawsuit: Report Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. reportedly won a
Dionne Warwick to Headline DOGE-Themed Festival Dogepalooza 2021
Dionne Warwick to Headline DOGE-Themed Festival Dogepalooza 2021 While dogecoin fans saw the first crypto-scented Dogecan body spray made by Axe, Oscar Mayer&rsq
South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and Forex
South African Man Charged in U.S. Court for Fraud Involving $28 Million in Bitcoin and ForexA South African man has been charged with fraud in the Maryland District Court for allege
Solana Consolidates In A Wide Range – Big Move On The Horizon?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
This Week’s NFT Sales Dropped by 13%, Ronin Markets Rebound, Clonex Climbs Higher
This Week"s NFT Sales Dropped by 13%, Ronin Markets Rebound, Clonex Climbs Higher Non-fungible token (NFT) sales have been lackluster this past week, as the aggregate sales volume
Elon Musk Presently Under Investigation by Federal Authorities, Twitter Informs Judge
Elon Musk Presently Under Investigation by Federal Authorities, Twitter Informs Judge Tesla and Spacex CEO Elon Musk is under federal investigation for his conduct in connection wi
Privacy Options Underutilized in Cryptocurrency Usage: Report
Privacy Options Underutilized in Cryptocurrency Usage: ReportAdvances in cryptography have not met with user enthusiasm, suggesting a disconnect between the cryptocurrency community