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ChainLink (LINK) Must Break Its Resistance for Further Upside! June 24th LINK Analysis

  • ChainLink (LINK) price is moving close to the $6.21 resistance level and is currently experiencing a slight increase.
  • If the LINK price surpasses the specified resistance levels, it can continue its upward movement; otherwise, it may show a downward trend.
  • The support levels mentioned in the analysis are important areas that protect the LINK price against the downward trend.

In the ChainLink (LINK) technical analysis, it is observed that the price is close to the $6.21 resistance level and the specified resistance and support levels are important for the price movement.

Medium-Term LINK Price Analysis

Daily LTC/USD Price Chart
Daily LTC/USD Price Chart

When examining the ChainLink (LINK) technical chart, it can be seen that the price is moving close to the $6.21 resistance level. Currently, the LINK price is experiencing a +0.71% increase and is at $6.111 levels.

If the LINK price achieves daily candle closes above the specified resistance line of $6.212, it is likely to continue its upward movement. However, if it fails to close above the $6.21 level, it may extend the downward movement to $5.46 levels.

In technical analysis, the nearest important support level for LINK is located at $5.62. If the LINK price cannot surpass the $6.21 resistance, it may continue the downward trend towards $5.62 levels.

If the LINK price fails to reverse from the $5.62 level, it may continue the downward movement until the support level mentioned in the analysis. However, if it successfully surpasses the $6.21 resistance, it can expand the upward movement towards $6.74 levels.

Short-Term LINK Price Analysis

1 Hour LINK/USD Price Chart

1 Hour LINK/USD Price Chart

When examining the ChainLink (LINK) price chart, it can be seen that the price is moving close to the 2-hour resistance zone. If the LINK price achieves hourly candle closes above the specified $6.30 resistance level, it can continue its upward movement towards $6.50 levels.

However, if the LINK price fails to surpass and close strongly above the $6.30 resistance, it may extend the downward movement to the $5.90 levels mentioned in the analysis. Additionally, if it makes hourly candle closes below the $5.82 level, it can expand the downward trend towards $5.54 levels.

The support levels mentioned in the analysis should be considered if the LINK price fails to break the resistance zone. These support levels are important areas that protect the price against the downward trend.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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