Chainlink (LINK) is currently trading at $15.61, marking a modest 0.23% increase in the past 24 hours. The cryptocurrency reached an intraday high of $15.98 and a low of $15.28. In this analysis, we break down LINK’s price action across multiple timeframes to identify crucial support and resistance levels, providing insights into its next potential price movement.
4-Hour Timeframe Analysis
On the 4-hour chart, LINK is testing the 100-period Exponential Moving Average (EMA) around $13.40, which acts as immediate support. If LINK holds above this level, it could signal a potential rebound. Resistance is observed at $18.50, aligning with the 50-period EMA. A decisive breakout above this resistance could propel LINK toward the $19.50-$20.00 range.
1-Hour Timeframe Analysis
In the 1-hour timeframe, LINK finds immediate support at $14.81, with a stronger support zone at $13.87. The key resistance level to watch is $15.32. If bullish momentum persists and LINK surpasses $16.06, the next target is set at $17.00. A sustained move above this level would indicate further upside potential.
15-Minute Timeframe Analysis
For short-term traders, the 15-minute chart highlights support at $15.26, while immediate resistance is at $20.35, followed by $20.79 and $21.55. A breakout above these levels could trigger a rapid bullish rally toward $22.50.
Projected Next Price Action for LINK
Based on current technical indicators, LINK must break above $15.32 in the short term to confirm a bullish continuation. If buyers push the price beyond $16.06, the next upside target will be around $19.14, aligning with the 0.618 Fibonacci retracement level.
However, failure to hold above $14.81 could result in a decline toward $13.87 before another bullish attempt. Traders should closely monitor volume levels and market sentiment before making trading decisions.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
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