Major Cryptocurrencies Testing Key Support Levels
- XRP Support Test: XRP has faced five consecutive days of losses, nearing the critical $1.0 support level that has held since November 2024; a break below this level could intensify bearish sentiment, while a successful defense may lead to a short-term recovery.
- Stellar Recovery Attempt: Stellar (XLM) bounced off the $0.184 support level, currently trading near $0.194; however, technical indicators suggest sellers still dominate, and maintaining this support could allow for an extended recovery attempt.
- Chainlink Support Defense: Chainlink (LINK) is attempting to recover from the $7.0 support level, trading at $7.3; a break above the $7.4 resistance could neutralize the bearish outlook, but overall technical indicators remain weak.
- Market Sentiment Weak: The overall market sentiment is bearish, with technical indicators for XRP, XLM, and LINK showing seller dominance, indicating limited potential for short-term rebounds, prompting investors to approach market fluctuations cautiously.
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Technical Analysis for LINK
Technical Sentiment Analysis for Chainlink (LINK). As of , Chainlink (LINK) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for LINK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, LINK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Chainlink (LINK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 4.895 | 5.945 | 7.214 | 8.264 | 9.533 | 10.583 | 11.852 |
| Fibonacci | 5.945 | 6.831 | 7.378 | 8.264 | 9.15 | 9.697 | 10.583 |
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