CHAINLINK PRICE ANALYSIS & PREDICTION (February 6) – Link Continues Drop After a Strong Rejection, Can it Hold Above This Support?

2025-2-8 17:10

While this week’s crash disrupted some altcoins buy setup, Link dipped to its lowest trading level after three months and remained weak. Although it recovered well but is not strong enough to restore the bulls.

Before the recent collapse, Link was footing another bullish move near a key resistance level while signalling a breakout. This bullish signal came after creating another support above the $22.3 level in late January.

Unfortunately, the bullish signal failed due to a rejection and the price dropped a bit with a strong closing that month. It started this month with a major sell and broke down the support the following day. This led to a serious reduction and the price dipped to precisely $15.4 on Monday.

That crash disrupted the whole market but a relief came after recovering back above the important $18 level. However, it has resumed selling pressure after testing the broken support as resistance. A solid hold above this important level could bring the bulls back into the market.

Advancing bearish actions below this level could bring us back to the three-month low tested on Monday. As of now, Link may appear trapped under the bears’ radar on the daily chart. Looking at the overall market from a technical standpoint, it is important to note that the trend remains bullish in the long term.

LINK’s Key Levels To Watch

Source: Tradingview

The bears are still eyeing the $17.9 support level. If reclaimed, they may pull to the weekly $15.4 low. A further break there might slip the price to $13 and potentially $11 in the near term.

Right now, the $22.3 level is considered an immediate resistance for a push. If Link climbs back above it, the next resistance levels for a test would be $27 and $31.

Key Resistance Levels: $22.3, $27, $31

Key Support Levels: $17.9, $15.4, $13

Spot Price: $19.75 Trend: Bearish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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ChainLink (LINK) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $17.68
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link months remained three level lowest trading

Источник: nulltx.com

link months → Результатов: 83


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