ChainLink (Link) has recovered from its last highest levels, as some traders have seen as a major accumulation.
Analyst Alex Clay participated in LINK prices, with a highlight of his re -testing at the critical technical level. According to Clay, the market decline provided a strategic entry point for investors looking to take advantage of the LINK’s budget.
Clay’s analysis indicates a cup and handle on the monthly chart of Chainlink. This pattern, which is often seen as an upper indicator, consists of a round accumulation base (the cup), followed by the decline (the handle) before the potential collapse.
The market dumps brought us an opportunity to load coins in Dips🔥 $ Certainly one of them! He also re -tested the keys of the cd & HMHly👀 neckline
In addition to my bag at these levels
Full send #connection 🚀 pic.twitter.com/wno93l8zes
Alex Clay (Cryptclay) February 5, 2025
LINK has already exceeded the neckline for this composition, confirming the attempt to collapse. The current price procedure shows that the link is re -testing this penetration area, a step that traders consider an upward confirmation.
If this level continues, it may enhance the upper direction and provide a basis for other gains. Clay reaffirmed his confidence in the preparation, saying that he adds to the links of the link at this stage.
The main price levels are set the next step for the link
Technical levels play an important role in evaluation Link path. Resistance is seen at $ 25.00, a level in which the previous rejection occurred. If the upscale momentum continues, the next resistance range extends between $ 35.00 and $ 38.00, with a long -term potential goal exceeding $ 50.00.
On the negative side, LINK’s support sits between $ 18.00 and $ 19.00, the area currently under re -test. connection Trading at $ 19.9. If this level fails, the following important support lies between $ 13.00 and $ 15.00. The market participants monitor whether the link can maintain its position above $ 18.00, as a break less than $ 17.50 can indicate a deeper decrease.
Also read: Pisces activity can indicate an increase in Lido Dao (LDO) – here is what to see
Market morale and future price expectations
Even as the total market decreases, Link maintains strong liquidity, offering a trading volume for 24 hours of $ 1.17 billion. Although short -term feelings seem negative, macro indicators indicate that Chainlink is still on a long -term upward path. The end of its lengthy decline has transformed the previous resistance levels into new support areas.
The association should remain above $ 18.00, experts expect a recovery about $ 25.00, with possible gains from $ 30.00 to $ 35.00. However, the decrease without the main support can see a price test lower levels before restoring the bullish momentum. The coming days will determine whether this re -test enhances the path of escalating correlation or leads to more declines.
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