Chainlink (LINK) is a digital currency associated with the Chainlink project, one of the most important projects in the blockchain field, especially regarding connecting smart contracts and real-world data off-chain.
🔗 What is the Chainlink project?
The Chainlink project provides a service called oracles, which is a bridge connecting smart contracts on the blockchain (like Ethereum) to real-world data (like currency prices, weather conditions, match results, etc.).
🔸 Example:
If you have a smart contract that requires knowledge of the Bitcoin price from outside (like from CoinMarketCap), Chainlink provides this data securely and reliably.
🔻 Support Levels:
$13.80 – $14.00: strong support currently, the price is moving close to it – has bounced off it several times.
$12.80 – $13.00: medium support, may be tested if the previous level is broken.
$12.00 – $12.50: historically strong support, represents an important low in recent months.
$10.80 – $11.00: distant support, represents a major long-term low.
Note: If a support area is broken, it automatically becomes a new resistance area.
🔺 Resistance Levels
$15.00 – $15.30: current major resistance – includes the 50-day moving average.
$15.80 – $16.00: very strong resistance – coincides with 200 EMA (long-term indicator).
$17.00 – $17.50: historical resistance area – formed at the last peak in April – May.
$19.00 – $20.00: major long-term resistance formed at the peaks of 2023.
⬅️ Note: The currency is currently testing the support area of 12.8-13.
✅ Reasons that may support an upward movement next week:
1. Bollinger Bands narrowing (in short time frames like 4 hours):
Indicates the proximity of a price explosion – often followed by strong movement either upwards or downwards.
If a breakout occurs above $14.80–15.30, a new upward wave may begin towards $16–17.
2. RSI indicator is close to 20 (on the 4-hour level):
Any slight rise pushes it into the positive momentum area, encouraging buyers.
3. Growth in interest in DeFi platforms:
LINK is often used as a data source for projects, and with improving market conditions, demand for it may rise.
4. The price is currently in a strong support area ($12.8-13):
As long as this level is not broken downwards, the trend remains likely upwards.
⚠️ But... there are risks to be aware of:
1. If LINK breaks below the level of $12.8:
It may drop towards $11 or even $10.8 before rising again.
2. General market (BTC and ETH):
If Bitcoin enters a strong correction, LINK and other altcoins will often be affected.
⬅️ Note: The week for cryptocurrencies starts on Monday and ends on Sunday.
