Chainlink’s native token LINK maintains the recovery trend indicated by technical indicators. It is considered that the upward trend may gain strength if the price rises above the critical resistance zone, whereas maintaining the current support levels will be decisive in terms of the short-term outlook.
Highlights in the price view
LINK is trading at $7.99 at the time of writing. The asset’s 24-hour trading volume is $178.34 million and its market value is $5.82 billion. The increase in the last 24 hours was limited to 0.07%; This suggests that the price is remaining relatively flat despite broader market uncertainty.
Analyst CRYPTOWZRD states in his evaluation dated July 11 that the daily candle close was above the uptrend zone. According to the analyst, the next meaningful move will also depend on the course of the LINK/BTC parity, which has started to gain strength.
CRYPTOWZRD predicts that the LINK/BTC parity may break out of the long-term daily wedge formation in the coming days, and such a break may increase the momentum in LINK’s dollar parity and move the price to the $10 region.
The analyst thinks that the $7.65 support may need to be tested first for buyers to step in more strongly. While the outlook remains positive as long as the price stays above this zone, a break above $8.20 could further support the upside scenario.
Technical indicators point to recovery
Bollinger Bands on the daily chart also support this chart. LINK is trading above the mid band at $7.64. In uptrends, this level often acts as dynamic support. The upper band is located at $ 8.25.
A breakout in the price above $8.25 could increase the chances of the upward move gaining momentum. On the other hand, if it falls below the middle band, it can be expected that the $ 7.04 support will come to the fore again.
Mini dictionary: Bollinger Bands are a technical analysis tool used to monitor price volatility and possible support and resistance zones. MACD is an indicator that helps measure the change in price momentum.
| Indicator | Level | Possible meaning |
|---|---|---|
| main support | $7.65 | Monitored to maintain bullish outlook |
| intermediate resistor | $8.20 | It is seen as important for confirmation of the upward break. |
| upper band | $8.25 | If exceeded, acceleration may increase |
| lower support | $7.04 | Can be retested on withdrawal |
The MACD indicator also reveals a positive picture at the first stage. The MACD line is at minus 0.0332 and the signal line is at minus 0.1083. The fact that the histogram remains in the positive zone at 0.0751 indicates that there is an increase in the buying momentum.
The search for direction will continue in the short term
The current technical structure shows that LINK has established a more solid base by maintaining important areas of support. Despite this, the possibility of a short-term correction has not been completely eliminated. However, the general momentum and chart structure indicate that the upward trend continues for now.
Over the next few trading sessions, the market will focus on whether LINK can first surpass $8.20 and then head towards the $10 target.
Therefore, investors are expected to closely monitor not only the LINK price but also the performance in the LINK/BTC parity. Simultaneous strengthening in two indicators can give a clearer signal about the direction of the next big move.
