There is currently an upswing in the global crypto market, and Chainlink appears to be performing best among other altcoins. This comes after a series of declines over the past few weeks.
Fundamentally, there have been optimistic perspectives towards the future performance of LINK in the crypto community.
Recently, Daan Crypto, a crypto analyst, suggested the possibility of LINK reaching the $10 price level as its buying momentum keeps increasing.
According to him, the market is currently favorable for the bulls. LINK has the tendency to keep rallying in the next few weeks as long as the momentum can be continued by the bulls.
Key Chainlink Levels to Watch – June 22
LINKUSD Has finally made a reversal after a long period of decline. The decline was made through a falling channel as the price of Chainlink depreciated.
Owing to the buying pressure at the $4.930 support, the price reversed and faced an upward direction. As a result of the continuous decline across the channel, the market entered an extremely underpriced state.
$LINK Followed the plan. It deviated below it’s 400 day range and retook it.
— Daan Crypto Trades (@DaanCrypto) June 22, 2023
Wouldn’t expect this to outperform many of the new shiny coins but the invalidation is clear as day and the risk/reward is solid.
It’s do or die here, $LINK Marines 🛥 https://t.co/Yjq3BkdLUP pic.twitter.com/6KtFfCCQp5
The oversold state was indicated by the RSI (Relative Strength Index). LINKUSD is likely to continue heading upward after respecting the bullish breaker block around $5.400.
LINK Key Levels
Resistance Levels: $6.170, $8.800, $9.650
Support Levels: $4.930, $4.420, $2.980
Total Market Capitalization: $1.17T
Chainlink Market Capitalization: $3.15B
Chainlink Volume: $0.20B
Market Rank: #22
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