📊 Market Overview
• Current price: $16.96
• 24h volatility: +6.13%
• Highest price of the day: $17.39
• Lowest price of the day: $15.97
• Market capitalization: $10.64 billion
• 24h trading volume: $725.5 million
• All-time high (ATH): $53.55 (May 2021)
LINK is witnessing strong growth, with prices rising over 6% in the past 24 hours. This momentum is driven by increasing interest from investors and positive news from the market.
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📈 Technical Analysis
• Nearby resistance: $17.50, $18.00, $20.00
• Strong support: $16.00, $15.00, $14.00
• RSI indicator (4H): Near 70 – overbought area
• MACD: Heading towards a bullish crossover
• 50-day SMA: Expected to reach $15.50 by May 15, 2025
• 200-day SMA: Expected to reach $14.00 by May 15, 2025
The 4-hour chart shows LINK is in a strong uptrend, with technical indicators supporting this uptrend. However, the high RSI indicates caution is needed regarding potential short-term corrections.
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📌 Major News
• Launch of Chainlink Rewards program: On May 8, 2025, Chainlink launched the “Season Genesis” rewards program in collaboration with Space and Time, providing 100 million SXT tokens for those staking LINK within 90 days.
• Price growth due to institutional interest: LINK rose 5.2% to $14.85 on May 10, 2025, driven by institutional interest and Chainlink's role in regulatory-compliant blockchain solutions.
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📊 Trading Strategy
Scenario 1 – Open Long Position
• Reason for entry: Price broke above resistance level of $17.00 with strong trading volume, confirming an uptrend.
• Entry zone: $17.00 – $17.50
• Stop-loss (SL): $16.00 (Below the nearest support)
• Take-profit 1 (TP1): $18.50
• Take-profit 2 (TP2): $20.00
• Probability of success: 75% (Based on technical signals and strong inflow)
Scenario 2 – Open Short Position
• Reason for entry: Price could not maintain above $17.50 and shows signs of a downward reversal.
• Entry zone: $17.50 – $18.00
• Stop-loss (SL): $18.50 (Above the nearest resistance)
• Take-profit 1 (TP1): $16.00
• Take-profit 2 (TP2): $15.00
• Probability of success: 60% (Based on the likelihood of a correction after a strong rally)
Note: The market is in an exuberant state; risk management should be tight and technical signals should be closely monitored.
📅 LINK price forecast in the near future
Forecast indicates LINK price may reach $18.67 by May 12, 2025, and continue to rise slightly in the following days.
🔗 Trade LINK