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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Chainlink Tunrns Resistance Into Support – ATH Next?

Sebastian Villafuerte
Sebastian Villafuerte
4 months ago
3 mins read
Chainlink Tunrns Resistance Into Support – ATH Next?

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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.

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4 months 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
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
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.

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4 months 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

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

Read more

To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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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 publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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