Chainlink (t-117) has recently experienced significant fluctuations, attracting considerable attention in the crypto community. After breaking through the $25 mark, the price surged by double digits in just one day, even briefly challenging $27.
However, being rejected at this level has caused many investors to start worrying: next, will Chainlink experience a big surge or a slight pullback?
LINK stands at a crossroads: Who will prevail, support or resistance? ⚖️
Analyst CryptoPilot points out that Chainlink is currently facing a critical choice. The price briefly broke through the $27.3 resistance level before retreating and is now approaching the lower boundary of the ascending channel.
If $27.3 cannot hold, the price may drop again to $18-19, or even touch the channel bottom of $15-17.
Conversely, if the bulls strongly break through $27.3 with large trading volume, the next step might directly challenge the channel top, with a target range of $45-52, meaning the price has a chance to double! 💥
In short, LINK is at a critical stage of 'either rising or falling' in the short term, with both bulls and bears watching closely.
Selling pressure: Can the bulls hold steady? 🛑
Another analyst, irritated.eth, reminds everyone that Chainlink's current price is in a historical sell zone. Whenever the price rises slightly, selling pressure increases, leading to repeated pullbacks.
So how can the bulls break the deadlock? There are three key signals:
Sell orders are gradually decreasing: the price continues to rise, but the selling volume is no longer significantly increasing, indicating that sellers are slowly 'running out'.
Steady rise: No significant pullbacks, the price is steadily rising along the ascending channel.
Breakthrough and hold above $40: If LINK successfully breaks out of the sell zone and holds above $40, it means that selling pressure has significantly diminished, and the bulls truly take control 💪.
In other words, as long as sellers are 'out of stock', Chainlink's bullish trend is likely to continue.
Key price points overview ⏱️
Support levels: $15-17 (channel bottom), $18-19 (short-term support)
Resistance levels: $27.3 (current key resistance), $34 (next target), $40 (potential bullish breakout point)
Long-term potential: $45-52 (channel top)
Investors can use these price points as references for short-term operations or risk management. Simply put, maintaining support creates opportunities to challenge resistance, and the long-short landscape is clear at a glance.
Summary: Opportunities and risks coexist ⚡
Chainlink is currently at a critical stage, with both bulls and bears evenly matched. In the short term, if the price breaks through $27.3, it is likely to challenge $40; however, if support fails, the risk of decline should not be ignored.
Crypto friends should closely monitor LINK's trading volume and selling dynamics. Once it breaks through the sell zone, the next wave of increases might be more intense than expected. 📈
💡 Small Easter egg: Recently, the overall market's risk appetite has risen, with the rebound of Bitcoin and Ethereum providing support for altcoins. If you hold multiple cryptocurrencies, Chainlink's performance is likely to present correlated opportunities, with both short-term prospects and volatility risks coexisting, so be mindful of the rhythm during operations.
✍️ Remember to DYOR, manage your risks well, and I wish everyone smooth sailing in the crypto world! 🌊
Many understand the trend, but few follow the right rhythm.
Like 👍, share, follow me, and I’ll help you capture more market opportunities while we enjoy the ups and downs together! Let's go!
In the current market environment, short-term operations are indeed necessary. If one keeps waiting for the spot to recover, it may feel like a test of time. I have also been fully engaged in secondary short-term operations and primary low-cap operations recently, yielding good results. If you want to keep up, feel free to follow me!
