Despite the widespread weekly gains in the encryption market, Chainlink (Link) is still under great losses to printing pressure across time frames. Since reaching the peak of a local price of $ 29.28 in December, Altcoin has slipped into a declining direction that loses more than 56 % since then. Amid this negative performance, the supreme analyst at Crypto Ali Martinez can suffer in the link close to some short -term gains.
The correlation recovery depends on the support of the critical direction line
in Modern job In X, Martinez shares a positive artistic view of the bond, Altcoin is likely to be tested of ascending. These price expectations depend on the decisive rising trend line that has been a price support since mid -2013, ensuring a fixed formation of the lowest levels and higher levels higher.
Based on the trading chart by Martinez, Chainlink is currently heading to re -test with the set line located near the RERRCATION 0.5 Fibonacci level at $ 12.00. If Bulls Link can stimulate a sufficient increase in demand for this level, the next price bounce may ignite a bullish reflection. Looking at historical price patterns, this price height can push to about $ 19, which represents the next resistance area.
With strong police pressure, Altcoin may rise to an increase of $ 30, indicating that its price increases by 147 % on the current market prices. On the other hand, the failure to remain above $ 12.00 will lead to a preliminary price decrease to about 10.00 dollars, with the possibility of trading to $ 5.00.
Integrated series in PayPal’s ecosystem
In other news, the Paypal Holdings Payment platform announced the inclusion of Chainlink in encryption offers. in statement Released on April 4, Paypal stated that users will now be able to buy, attach, receive and receive Chainlink and Solana (SOL) on their PayPal and Venmo portfolios.
This development represents an important step in the prevailing integration of the link, which is very important to pay the symbolic demand in the future. In addition to both Ramwin, PayPal also provides users with access to Bitcoin (BTC), ETHEREUM (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
At the time of the press, Link continues to trade at $ 12.91, which reflects a 0.62 % decrease over the past 24 hours. In the larger time frames, the distinctive symbol maintains a declining shape with losses of 5.03 % and 21.81 % in the past thirty -seven respectively.
according to Data from CoincodexThe feelings of investors in the correlation market are still very declining with the fee and greed index of 26 indicating semi -late fear. However, analysts in this company expect a recovery of prices similar to Martinez, with expectations of $ 15.32 in five days and $ 17.46 a month.
