As the price of Bitcoin stabilizes above its important psychological level of $67,000, the DeFi market has recorded a significant increase in the buying and selling pressure. Moreover, many projects have regained momentum by breaking out of their crucial resistance levels.
Following this, Chainlink’s price has maintained its value above the $11 mark! With the rising volatility, will the LINK coin price retest its $14 level? Or will this altcoin consolidate once again?
LINK Price Successfully Retests Its Important Trendline!
Despite increased market uncertainty, the Chainlink price has added 2.58% to its portfolio with a 24-hour trading volume of $237.59 million. Moreover, with a jump of 3.53% over the past week, it has maintained its value above the $11 mark.
The EMA 50-day constantly supports the Chainlink price chart in the 1D time frame. This indicates an increase in the bullish sentiment for the altcoin in the market.
Moreover, the RSI indicator has successfully retested its neutral point with its average trendline recording a bullish rise. This suggests that the LINK coin price may regain momentum in the coming time.
Will LINK Price Hit $14 This Uptober?
If the market favors the bulls, the Chainlink price may prepare to retest its resistance level of $14 in the coming time. Further, if the bulls dominate the crypto space this Q4, this could result in it heading toward its upper resistance level of $17.
Conversely, if the bears outrun the bulls, the Chainlink coin price will retest its support level of $11 this month. Moreover, if the bulls fail to regain power at that point, this could result in it pushing its price toward its lower support level of $8 during the upcoming weeks.
Wondering about the long-term prospects of the 14th-largest cryptocurrency? Read our Chainlink (LINK) Price Prediction 2024 – 2030!
