LINK price is set to recover if it is able to maintain one critical level

Chainlink's LINK price has retested the $12.00 support area. The price is now eyeing a recovery wave above the $13.50 and $15.00 resistance levels.

Chainlink price is showing bearish signs below the $15.00 resistance level against the US Dollar.

The price is trading below the $14.20 level and the 100 simple moving average (4-hours).

There is a major bearish trend line forming with resistance near $13.50 on the 4-hours chart of the LINK/USD pair (data source from Kraken).

The price could start a good increase if it crosses the $15.00 resistance area.

Chainlink (LINK) price is looking to steadily increase

In the past few days, Chainlink has seen a significant decline from well above the $18.00 level. Like Bitcoin and Ethereum, LINK price fell below the $15.00 pivot level to enter a short-term bearish zone.

The price tested the $12.00 support area. The bottom was formed at $11.92 and the price is now trying a recovery wave. There was a move above the $12.50 level. It even jumped above the 23.6% Fibonacci retracement level of the downward move from the high of $18.66 to the low of $11.92.

LINK price is still trading below the $14.20 level and the 100 simple moving average (4-hours). Immediate resistance occurs.