ChainLink tests $ 12.5 support at the present time. This is an important level that has been suspended before. The veteran analyst Crypto Rand highlighted this development on X, noting that the LINK price is looking for a bounced in this main range amid critical pressure. Participants in the market monitors potential movements in either direction, where the original is combined within a convergence parallel channel.
Series and directional analysis chain
LINK was in the direction of a decline since its peak over $ 22 in late December and early January. A clear parallel channel has been formed, while respecting both the higher and lower lines. The latest movement offered $ 12.5, a historically strong support level.
The price procedure indicates that a higher break from the concession canal can indicate a reflection, while failure to keep $ 12.5 may lead to a side of more negative side. The current market behavior indicates that traders are waiting for confirmation before adhering to the direction.
Also read: It’s time to buy Solana? The main Sol support level can lead to a recovery
Connecting key support levels and resistance levels
If the price of Chainlink remains above $ 12.5, we can see that it climbs to $ 14.5 to $ 15 and may reach $ 18 to $ 19 if the momentum is built.
But if 12.5 dollars collapsed, search for $ 10 -10.5 dollars or even $ 7.5-8 dollars if things get worse. We have not seen low prices since mid -2013.
There was more trading volume about $ 12.5, which may mean that buyers intervene. But we need to see a stronger purchase to reflect the declining direction.
What is the next link?
Crypto Rand is believed to be chainlink at the decision point. The price was moving in a more strict scope, which often leads to a large move soon – either up or down. The tightening range increases the possibility of a sharp step. If buyers enter the current levels, The bounce can push the LINK price towards the key resistance Regions. On the contrary, in the event of a failure of $ 12.5, low support in play may enter.
Market participants monitor price procedures, size directions, and the total market conditions to determine the next step for the link.
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