ChainLink price withdrawal series reaches an important support zone: Can the link be linked from here?
The price of Chainlink has decreased by 9 % over the past day, as it tests a major level monitored by traders due to potential bounces. This is the most prominent Crypto Feras analyst on X (previously Twitter), as it draws attention to “Golden Pocket” – a Fibonacci level that often indicates where prices may be turned.
LINK price has returned to the 61.8 % -65 % Fibonacci level after climbing from $ 4 to $ 30. Many merchants believe that this area is a good place to buy, as the demand increases here. The market participants are now watching to see if Link will stop falling and start climbing again, or continue to decline.
LINK price movement and technical analysis
Before this withdrawal, the price of Chainlink was a strong operation from 4 dollars to $ 30. Using the Fibonacci tool, we can see Link has now decreased to the level of 61.8 % embarrassment – “golden pocket”. This area often represents a turning point for many encryption assets, making it an important support zone.
The graph shows many other Fibonacci levels (23.6 %, 38.2 %, and 50 %) that were already tested on its way. If the price decreases below the current support, the next possible floor sits around the level of 78.6 %, which is lined with previous support between 9 to 10 dollars.
Linking market morale and analyst’s perspective
Crypto Feras tweeted that he is confident of this support zone. He bought a link here before and plans to buy more. He believes that this level can help prices bounce. But merchants have mixed feelings and are waiting to see if there is a real shift.
The patterns of size and candles will be important in knowing whether LINK can keep this level. More purchase or patterns such as the double bottom may indicate an upward step. On the contrary, if the pressure pressure continues, the Link price may test lower support areas.
Possible scenarios for Link price
IF -chainlink pricing is higher than The golden and momentum of the purchase, can indicate a potential price recovery towards previous resistance levels, including $ 17 and $ 20. If the prices drop to less than this region, we may see more declines, as the area of 9 to 10 was the next support for watching.
Traders monitor price movements, as many are waiting for technical signals before making any moves. How LINK works at this support level will determine the location of the price head in the short term.
Also read: Crypto Expert predicts the decrease in the price of Dogecoin (DOGE) unless this changes …
Follow us X (twitter)and Coinmarketcap and Binance Square For more daily encryption updates.
Get all our future calls by joining A free telegram group.
We recommend etoro
The community of active users and social features such as news extracts, and chats to obtain specific metal coins available for trading.
A wide range of assets: cryptocurrencies along with other investment products such as stocks and traded investment funds.
Trading copies: It allows users to copy prominent traders trading, for free.
Easy to use: ETORO web platform on the web -based etoro and the mobile application is easy to use and easy to move.
