Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Leo football price and a little soft players. Each Arcu Lorem, ultimate all children or, Ultlamcorper football hates.
In the middle of today’s market correction, ChainLink (Link) lost its recent gains, falling to a crucial level of support. An analyst suggests that a monthly closure above its current beach could position the cryptocurrency for a overvoltage of 35%.
Related reading
ChainLink Reastes the crucial price area
ChainLink traced 9.1% in the last 24 hours to receive the $ 14 key support area again. The cryptocurrency jumped 15.7% compared to the stockings last Friday to reach a maximum of 18 days of $ 16 Wednesday, momentarily recovering 35% compared to this lowest of this month.
However, the recent market correction interrupted the momentum of most cryptocurrencies, Bitcoin (BTC) with the brand of $ 83,700 and Ethereum (ETH) plunging to the support area of ​​$ 1860.
Today, Link went from $ 15 to $ 14.07, losing all of his Wednesday earnings. Previously, analyst Ali Martinez note that cryptocurrency has been in a parallel channel ascending since July 2023.
ChainLink has oscillated between the upper and lower limit of the pattern for the last year and a half, going to the upper tendency line of the canal each time it retests the lower area before retreating.
In the midst of its recent price performance, cryptocurrency retains the lower limit of the channel, which suggests that a rebound in the upper range could come if it holds its current price levels.
Meanwhile, Rekt Capital highlighted That the token tests its motif of a multi-house symmetrical triangle, which could determine the next movement of the cryptocurrency.
As the analyst explained, Chainlink consolidated himself within a “triangular macro market structure” for most of 2024 before leaving the model during the November rally.
During the escape of the fourth quarter of 2024, the cryptocurrency reached more than $ 30.9 of two years but did not maintain this level in the following weeks. As a result, it has been downwards for three months, Link’s price falling in the Macro Triangle.
“Link’s main objective here is to retest the top of the model to secure a successful post-elite retest,” said Rekt Capital, adding: “It is possible that he is a volatile post-pause retest.”
The link must maintain this level
Rekt Capital stressed that, historically, Chainlink had inconvenience Differences in this price range: “In mid-2010, Link produced a decline gap in this price area in the form of several monthly wicks.”
Nevertheless, cryptocurrency is down to the decline “but in the form of true candle bodies closing rather than downward wicks” this time.
The analyst also stressed that, as in 2021, Link is negotiated in a historic request zone, at around $ 13-5 and $ 15.5, testing this area as a support. Based on this, cryptocurrency must successfully maintain this area to “position yourself for the future in the future”.
Related reading
In addition, the retest is the key to recovery The top of its triangular market structure. The rupture and recovery of this level “would require a new post-pausest retest” and allowed the price to target the resistance of $ 19 in the future.
The analyst concluded that if Link closes the month above the Top triangle, he “would position the price for a successful retest, despite the downward deviation”.
To date, Chainlink is negotiated at $ 14.09, a 6.9% drop in the monthly period.
Star image of Unsplash.com, tradingView.com graphic
