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The resistance was at $18.05
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The LINK/USD pair found strong support at $15.50
An examination of Chainlink’s price action shows that bulls have been holding off the downward wave, which is a positive sign for the cryptocurrency market. Chainlink experienced a significant pullback earlier this month, but prices are steadily recovering and are expected to surpass the current $17 level in the near term.
However, the next hurdle remains around $18.60, which helps explain the relatively modest price swings today. If the uptrend continues over the next 24 hours, that resistance could be breached and LINK may climb steadily toward $20, the next key level to watch.
Bulls retain advantage, overcoming the descending obstacle
According to the latest updates, Chainlink’s daily price chart reveals that the cryptocurrency is gaining ground today despite ongoing downside pressure. On Sunday the price rose 10.36% to reach $18.053. The chart also indicates bulls have attempted a comeback in recent days and have regained control, keeping prices above prior lows.
Source – TradingView
A four-hour price analysis of Chainlink suggests the uptrend is asserting control. Recent hours have favored bulls, with short-term price action showing more green candles that have overcome the obstacles created by bears in earlier sessions.