Chainlink's price broke above consolidation well before the apex, showcasing strong bullish momentum.
Upon reaching a key resistance zone between $18.3 and $19, the token encountered significant bearish pressure.
On the 4-hour chart, the price surged but now hovers within the consolidation zone.
Recently, Chainlink (LINK) breached the upper boundary of the Ichimoku cloud on the daily timeframe, situated approximately at $17.20.
This breakout signals bullish potential, implying further upward movement if sustained.
According to Coingabbar analysis, If Bulls successfully defend the $18 support level, a bullish resurgence could propel prices beyond $21.
Failure to surpass $19 may lead to a decline in LINK's price, potentially dropping to $15.50.
KEY LEVELS :
RESISTANCE LEVEL : $20.000-$23.000
SUPPORT LEVEL : $16.000-$13.000
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