Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Chainlink needs to clear $6.25 for a new rally.
EXCHANGE NEWS

Chainlink needs to clear $6.25 for a new rally.

By Crypto FlexsDecember 1, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Chainlink needs to clear .25 for a new rally.
Share
Facebook Twitter LinkedIn Pinterest Email

Chainlink’s LINK price remains within the $5.75 support area. A break out of the $6.25 resistance area could start a new rally for the price.

  • Chainlink token price is showing positive signs above $6.0 against the US dollar.
  • The price is trading near the $6.05 level and above the 100 simple moving average (4-hours).
  • There is a major bearish trendline forming on the 4-hours chart of the LINK/USD pair with resistance near $6.10 (data source from Kraken).
  • The price may gain bullish momentum above the $6.25 resistance zone.

Chainlink (LINK) Price Eyes Fresh Recovery

After the significant decline, LINK price found support near $5.75 against the US dollar. A low was formed near $5.74 and the price is currently attempting a recovery like Bitcoin and Ethereum.

There was some decent movement above the $5.85 and $6.00 levels. LINK is currently trading near the $6.05 level and above the 100 simple moving average (4-hours). But starting at $6.10, there are a lot of hurdles on the upside. Moreover, on the 4-hours chart of the LINK/USD pair, there is a major bearish trend line forming with resistance near $6.10.

The current price action suggests that the price is struggling near the trendline and $6.10. The first major resistance is near the $6.25 area. This is close to the 23.6% Fib retracement level of the downward move from the $7.91 swing high to the $5.74 low.

Source: LINKUSD on TradingView.com

A clear break above $6.25 could begin a new rally towards the $6.65 and $6.80 levels. The next major resistance is near the $7.10 level, a break above which could push the price back towards $7.50.

Another downside loss?

If Chainlink’s price fails to break above the $6.25 resistance level, the downtrend could extend. Initial support for the downside is near the $6.00 level.

The next major support is near the $5.75 level, below which the price may test the $5.60 level. Any further losses could push the price towards the $5.35 level in the near term.

technical indicators

4-Hour MACD – The MACD for LINK/USD is losing momentum in bearish territory.

4-Hour RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level.

Key support levels – $6.00 and $5.75.

Key resistance levels – $6.25 and $6.80.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025

Vechain is a crawling for the Renaissance upgrade among the veterinarian price pressure.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

JPMORGAN accepts Bitcoin ETF with loan collateral: How investors can benefit

June 6, 2025

NVIDIA’s BLACKWELL Architecture MLPERF has set up new performance standards.

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025

Bitfinex updates version 1.116 improved platforms

June 6, 2025

Encryption leverage: 2025 trend and change analysis

June 6, 2025

Why DEGO Price tank 60%after moving USD1 Stablecoin

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

JPMORGAN accepts Bitcoin ETF with loan collateral: How investors can benefit

June 6, 2025

NVIDIA’s BLACKWELL Architecture MLPERF has set up new performance standards.

June 6, 2025

ZK-Proof Blockchain Altcoin Lagrange (LA) New Coinbase

June 6, 2025
Most Popular

Major cryptocurrencies to watch for market decline after rapid rise

March 19, 2024

ADA price has reached a critical juncture. Could Cardano begin a new surge?

February 23, 2024

Dogecoin overturns Cardano (ADA). What is behind Doge’s Bull Run?

March 26, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.