Chainlink shows renewed potential as technical analysis indicates a strong move above key levels.
Technical Breakout Signal
A tweet from Ali_charts supports the technical view, noting that LINK move above $15.50 could send the price to $17, despite potential resistance at that level. Recent chart analysis shows LINK in a consolidation phase between $12 and $15, suggesting accumulation before a decisive breakout. A trendline breach indicates renewed bullish pressure.
Moving Averages and MACD Confirmation
The asset currently trades above both the 9-day and 21-day moving averages, indicating shifts in market momentum. The MACD indicator reinforces the bullish trend as the MACD line crosses above the signal line while green histogram bars show rising buying pressure.
Support, Resistance, and Price Outlook
Support levels are identified between $14.40 and $14.50, previously serving as resistance. Resistance is projected between $16.50 and $17.00. If LINK maintains momentum above $15.50, these resistance levels become targets for upward movement.
Current technical analysis and identified price levels suggest the potential for Chainlink to rise to $17, with further movement contingent on overcoming key resistances.
