Chainlink (LINK) has shown a slowdown after a promising start to June, currently trading around $13.18. Market attention is focused on key support and resistance levels that may dictate future price movements.
Resistance at $15
According to analyst Ali Martinez, the $15 level represents a significant resistance point for LINK. His analysis highlights cost-basis clustering where large groups of holders acquired LINK at similar prices, indicating potential sell zones.
CITE_W_A: "One key resistance level to watch for Chainlink [$LINK] is $15.30, breaking above it could open the door to higher highs!" — Ali.
Support at $13
Data from IntoTheBlock shows that the region between $12.87 and $13.26 serves as a key support area. Over 20,000 addresses purchased 53.9 million LINK tokens around an average price of $13.05, suggesting that buyers could step in to defend their positions should LINK dip again.
Short-Term Outlook
While Chainlink is far from collapsing, its struggle to regain higher ground, particularly above $15, reflects a market still characterized by cautious optimism. If bulls can push LINK above $15 and turn that resistance into support, it may lead to a more sustained recovery. Conversely, a breakdown below $13 could see LINK retest its June lows near $11.20.
With attention on the $13 to $15 range, a breakout in either direction may set the tone for Chainlink's future trajectory. Investors and analysts remain vigilant to determine the next steps for the token.
