Chainlink (LINK) price shows potential for price recovery since investors received a buy signal from the TD Sequential indicator near the $18.00 support area.
This indicator served historically to show reliable data about upcoming short-term trend changes.
The LINK tracking analysts believe this signal presents an opportunity for prices to rise to $21 and extended gains up to $23 under increased buying conditions.
Crypto analyst Ali (@ali_charts) commented,
“Chainlink looks poised for a rebound toward $21 or even $23, as the TD Sequential indicator flashes a buy signal near the lower boundary of this channel.”
The price development at LINK has captured the interest of market traders who perceive it as a possibility for price growth.
Key Support and Resistance Levels to Watch For Chainlink Price
LINK trades at $18.59 after reaching its lowest trading range boundary at $17.00 to $18.00 yet market entrants provided support to halt price decline.
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The price level served as an effective demand area during previous periods which stopped price drops.
Chainlink price might experience a short-term bullish breakout upward from its current price levels if support holds at its current position.
The traders should focus on $21.00 resistance because this zone previously served as a vital consolidation area.
The next significant barrier for LINK price appreciation lies at $23.00 since this zone previously generated multiple price rejections.
Analysts continue to assess if buying intensity will drive LINK above these selected price points.
Market Indicators Show Mixed Signals
Chainlink’s current market activity becomes better visible through the evaluation of technical analysis indicators.
RSI (14) stands at 48.94 which indicates the market is in neutral territory at this time.
Chainlink’s price performance suggests higher bullish momentum when it crosses above 50 whereas falling beneath 40 indicates renewed buying pressure.
The Directional Movement Index (DMI, 14) currently points toward continuous competition between purchasing and selling forces in the market.
The ADX reading at 22.4748 suggests trend formation alongside +DI (17.6775) and -DI (15.1226) indicators that indicate momentum uncertainty.
The market direction might indicate bullish control when traders successfully break out above +DI 20.
Holder Activity and On-Chain Metrics
Data from IntoTheBlock indicates that LINK holders keep their positions strong after recent price decreases with 57% in profit and 40% at a loss.
The next Chainlink’s price movement may result from whale participation because these whales control 67% of all LINK units currently in circulation.
Analysis of exchange activities reveals a continuous withdrawal trend since LINK token movements have reached -$19.76 million creating a negative balance.
The accumulation of LINK tokens on exchanges rather than increased selling could enhance the possibility of prices rising up to $21 and $23.