Altcoins News
By Sakamoto Nashi
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$18: The Level Everyone’s Watching. The $18 mark isn’t just a round number—it's technically significant.
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Chainlink Price Needs Volume and Momentum. While some momentum is building behind the scenes, volume has not yet confirmed a major trend…
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Support Levels to Watch if LINK Dips. If selling pressure increases, traders are looking at several support zones to hold the price.
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Broader Market Context and What It Means for LINK. The recent price drop in LINK coincides with a broader dip across the crypto market.
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Final Thoughts: Breakout or Breakdown?. Chainlink’s price is at a critical turning point. Traders are closely monitoring the $18…
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Chainlink (LINK) is currently facing heavy resistance around the $18 mark, struggling to break through and confirm a new bullish trend.
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LINK is currently priced at $16.64, reflecting a 7.74% drop in the past 24 hours, according to CoinGecko.
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The $18 mark isn’t just a round number—it's technically significant. According to crypto analyst Hov, this level represents the top of Wave 1 in the Elliott Wave structure.
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Hov suggests that two bullish scenarios are currently in play. In the primary view, LINK is already in Wave 3, which could send prices as high as $31 in the medium term.
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Interestingly, the recent price wick into the $18 resistance zone has reduced the likelihood of Wave 4 extending, but it hasn’t completely ruled it out.
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Between $18 and $25, there’s a low-volume zone, meaning there’s less historical trading activity in that range.
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However, without a confirmed breakout, the risk of a price rejection remains. Chainlink needs more than a wick—it needs a sustained move backed by solid buying interest.
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If selling pressure increases, traders are looking at several support zones to hold the price. The immediate support lies near $16, followed by $14 as the next buffer.
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These levels are crucial in maintaining a bullish structure. A breakdown below $14 would significantly weaken the current bullish outlook, increasing the chances of a prolonged…
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The recent price drop in LINK coincides with a broader dip across the crypto market. Bitcoin and Ethereum also recorded losses in recent days, adding to the uncertainty and risk…
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