- When examining the technical chart of LINK
in the 3-hour time frame, an upward trend can be observed.
- Closing prices above the $7.64 level support the continuation of the uptrend, while closing prices below it can strengthen the downward trend.
- The nearest resistance level is determined as $8.20. If this resistance is surpassed, the target of $8.77 will come to the forefront.
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The technical analysis of Chainlink (LINK) price chart in the 3-hour time frame indicates the continuation of the uptrend. Especially, closing prices above the $7.64 level carry the potential to sustain LINK’s upward movement, and there is a possibility of aiming for higher levels if resistance levels are surpassed.
Medium-Term LINK Analysis
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As we continue to update the Chainlink (LINK) price chart, it has provided our readers with a return of over 12% with the upward movement from the region we indicated in our analysis published on July 25th.
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The nearest resistance level that stands out is $8.20. If the LINK price is supported by daily candlestick closures above $8.20, there is a possibility of moving towards the main target of $8.77. In case this resistance level is surpassed, it is observed that the LINK price may attempt to rise towards the $9 level.
On the other hand, if the LINK price cannot sustain above $8.20, it may exhibit a downward movement towards the nearest support zone at $7.43. If the LINK price encounters strong buying demand from the $7.43 level, it can resume the upward trend.
Short-Term LINK Analysis
When examining the technical chart of LINK in the 3-hour time frame, we observe that the uptrend continues. As long as the $7.64 level mentioned in the analysis is maintained, there is a potential for the LINK price to continue its upward trend towards the $8.13 levels.
However, if the LINK price performs 3-hour candlestick closures below the $7.64 level, it can extend the downward movement towards the $7.42 support zone. At this point, it is important for LINK investors to closely monitor the support at the $7.64 level.
If the LINK price performs 3-hour candlestick closures below the $7.42 level, there is a possibility of extending the downward trend towards the $7.25 levels. However, if strong buying demand is encountered from the $7.42 level, it is observed that the LINK price can continue its upward trend from this zone, targeting first the $8.13 level and then the $8.50 levels.