Chainlink’s native token LINK is trying to find support again after a long-standing downward trend. Market players are closely watching whether the recent recovery will be permanent and whether the price can form a strong base. The recent recovery has brought both support and resistance areas of the price back to the agenda.
Highlighted levels and analyst evaluations in technical charts
In the current chart shared by an analyst, two potential targets were suggested if the price moves upwards. Initial resistance points to around the $25.52 level, while the longer-term target lies in the $47.96 band. Although these levels are still far from the current market prices, they are noteworthy as they show possible movement areas if the support in the market remains strong.
Another element underlined in technical analysis is that LINK clings to a wide blue zone where it finds support at multiple cycle bases. In Don Wedge’s post, the price movement in this region is seen as a critical update phase. While the price chart presents a structure in which consecutive declines always put pressure on the same base region, some recovery attempts were observed in this region. This chart shows that investors are focusing on whether a long-term bottom has formed in LINK.
Market data and short-term movements
LINK has rebounded with the support of buyers after experiencing pressure recently. The price has retreated 83.55 percent since the all-time high of $52.70. However, thanks to the current move, the price has remained above the support area noted by the analyst while approaching the upper parts of the daily range.
Market data shows LINK is trading at $8.67; It showed that it increased by 1.78 percent in 24 hours. On the same day, the lowest level was $ 8.29 and the highest level was $ 8.70. LINK thus experienced an increase of $0.41 from its intraday lowest level. The total market value was measured at $6.13 billion and the trading volume reached $270.97 million. The amount of LINK in circulation was recorded as 708.10 million units.
Developments in technical indicators also continued the unstable structure of the market. With its signals, MACD pointed out that the upward momentum remained weak. The MACD line is at -0.12, the signal line is at -0.06, and the histogram is hovering near -0.06. This shows that the momentum is not shifting in a clear direction. Currently, the main support is in the $8.30–$8.40 range, with initial resistance formed at $9.07. $9.83 is the next important resistance.
Latest technical data and resistance zones
LINK/USDT pair started the day at $8.42 on TradingView; The highest was $8.92 and the lowest was $8.40. At the end of the day, the price closed at $ 8.87 and recorded an increase of 5.34 percent.
Bollinger Bands placed the upper band at $9.83, the middle band at $9.07, and the lower band at $8.30. LINK price continued to remain below the middle band at the close. According to these data, although LINK has recovered in recent days, it has not yet been able to overcome critical resistance levels.
