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#Chainlink consolidates at $14, and doesn’t even get close to a retest at $8.
— Michaël van de Poppe (@CryptoMichNL) December 18, 2023
Most likely, anything in the ball park of $11-14 is a good entry point, aiming for $25 in the next 3-6 months.
The upwards cycle has started and consolidation periods are entry points. pic.twitter.com/2iKEFOfX45
Another analyst, Altcoin Sherpa, expresses confidence in Chainlink’s long-term strength, suggesting a potential pullback of around $11 for sustained growth. In conclusion, these analyses offer a thorough understanding of Chainlink’s trajectory, emphasizing its long-term potential amidst short-term uncertainties. Investors are advised to weigh these insights for informed decisions in the dynamic crypto market.
$LINK: Would love seeing a pullback around the $11 area. I think this one is a very good strong project for the long term but a midterm pullback would still be healthy. #LINK pic.twitter.com/Av6eShXJ31
— Altcoin Sherpa (@AltcoinSherpa) December 18, 2023
Key Chainlink Levels To Watch – December 20
The sell signal of the MA Cross before the breakout at $7.910 led to a massive expansion to the upside. As the rally continued to the premium zone, a FVG (Fair Value Gap) formed at $12.860.
The market is currently in a correction phase as the pressure from the $17.330 supply zone overwhelms the market. USDJPY crashes lower as it heads into the Fair Value Gap at the $12.860 price level.
Chainlink Key Levels
Resistance Levels: $17.330 $18.320, $19.560
Support Levels: $9.650, $7.910, $4.930
LINK Metrics
Total Market Capitalization: $1.62T
Chainlink Market Capitalization: $8.16B
Chainlink Volume: $377M
Market Rank: #13
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