Logo van Blockchair
Chainlink Signals Deeper Losses: Can Bulls Stage A Comeback? Newsbtc 18 sep. 2024

Chainlink Signals Deeper Losses: Can Bulls Stage A Comeback? 📉

Chainlink is facing increasing bearish pressure as its price continues to edge lower, signalling a potential move toward the further downside. After a period of consolidation, the bears have regained control, pushing Chainlink closer toward the $9.28 support level. However, bulls may not be ready to give up just yet.

With market sentiment fluctuating, the possibility of a bullish comeback looms on the horizon. By examining key technical indicators and market sentiment, we seek to determine if LINK is poised for a deeper decline or if bullish forces could reverse the current trend and drive the price upward.

At the time of writing, Chainlink was trading around $10.59, marking a 0.10% decline over the past day. The cryptocurrency’s market capitalization stood at approximately $6.4 billion, while trading volume exceeded $206 million, showing increases of 0.10% and 15.36%, respectively.

On the 4-hour chart, following a successful drop below the $11 mark, LINK has continued to experience negative momentum, dropping toward the 100-day Simple Moving Average (SMA). As the cryptocurrency approaches the 100-day SMA, it could either find temporary support or risk further declines if the bearish momentum continues to intensify. The Relative Strength Index (RSI) on the 4-hour chart has dropped below the 50% threshold, now sitting at 42%.

On the daily chart, Chainlink is currently making a bearish movement towards the $7.14, trading below the 100-day Simple Moving Average. This movement underscores strong selling pressure and negative market sentiment, signaling a heightened risk of further losses. The 1-day RSI reflects increasing pessimistic pressure on LINK, as the indicator has fallen to 47% after briefly crossing above the 50% threshold.

As the cryptocurrency approaches the $9.28 support level, which could spark a potential rebound, technical indicators like the RSI still point to strong selling pressure. If LINK fails to hold this level, a break below could result in persistent declines, potentially testing the $7.14 support level and even lower thresholds. However, should Chainlink manage to hold above this crucial support level, it could set the stage for a potential upward move toward the $11.10 resistance.

A successful breakout through this resistance could ignite a significant rally, paving the way for the price to aim for the next key resistance at $12.44. If bullish momentum continues to build, Chainlink may even reach higher levels, extending the rally beyond current resistance points.

Bron: www.newsbtc.com ↗

Vergelijkbare artikelen (57)

Is Chainlink Poised for a Breakout Above $13? TheNewsCrypto 2 weken geleden
Is Chainlink Poised for a Breakout Above $13?
Chainlink Holders Accumulating Amid CCIP Upgrade: Is A LINK Breakout Imminent? Newsbtc 3 weken geleden
Chainlink Holders Accumulating Amid CCIP Upgrade: Is A LINK Breakout Imminent?
Chainlink (LINK) Bullish Pattern Could Ignite A Breakout: Analyst Sets $15 Target Newsbtc 05 okt. 2024
Chainlink (LINK) Bullish Pattern Could Ignite A Breakout: Analyst Sets $15 Target
Chainlink 125% Target In Sight As Whale, On-Chain Activity Soar—Analyst Newsbtc 1 week geleden
Chainlink 125% Target In Sight As Whale, On-Chain Activity Soar—Analyst
Chainlink Price Set to Surge, but Analysts Believe This Coin Could Be the Next Big Thing Crypto Daily 07 okt. 2024
Chainlink Price Set to Surge, but Analysts Believe This Coin Could Be the Next Big Thing
Chainlink: The Investment Of A Lifetime? Analyst Thinks So Bitcoinist 06 okt. 2024
Chainlink: The Investment Of A Lifetime? Analyst Thinks So
Chainlink Comeback Soon? Data Shows LINK Continues To Leave Exchanges Bitcoinist 3 weken geleden
Chainlink Comeback Soon? Data Shows LINK Continues To Leave Exchanges
Chainlink Bounces from Key Support: Is $30 Target Possible? The Coin Republic 1 week geleden
Chainlink Bounces from Key Support: Is $30 Target Possible?
Chainlink price prediction – Here’s what a rally on LINK’s charts will look like Ambcrypto 2 weken geleden
Chainlink price prediction – Here’s what a rally on LINK’s charts will look like
Chainlink (LINK) Double Breakout, Buy Signal or What? Coinpedia 28 sep. 2024
Chainlink (LINK) Double Breakout, Buy Signal or What?
Chainlink Eyes 21% Rally as Selling Fear Falls to 16-Month Lows Beincrypto 17 sep. 2024
Chainlink Eyes 21% Rally as Selling Fear Falls to 16-Month Lows
LINK Price Analysis: Key Levels at $13.10 and $15 After Recent Breakout Blockonomi 30 sep. 2024
LINK Price Analysis: Key Levels at $13.10 and $15 After Recent Breakout
Why Chainlink price could soar 20% – Bullish breakout spotted! Ambcrypto 29 sep. 2024
Why Chainlink price could soar 20% – Bullish breakout spotted!
Chainlink Price Plumments: Is It Time to Buy the Dip Now? Coingape 18 sep. 2024
Chainlink Price Plumments: Is It Time to Buy the Dip Now?
​​Chainlink Price Plunges 13% A Week: Will the Bearish Trend Continue? Coingape 03 okt. 2024
​​Chainlink Price Plunges 13% A Week: Will the Bearish Trend Continue?
Chainlink Price Poised for Breakout, Eyeing 50% Surge: Will Market Sentiment Hold? Coingape 25 sep. 2024
Chainlink Price Poised for Breakout, Eyeing 50% Surge: Will Market Sentiment Hold?
‘Smart money’ flocks to Chainlink — Is $20 within reach for LINK now? Ambcrypto 01 okt. 2024
‘Smart money’ flocks to Chainlink — Is $20 within reach for LINK now?
Tracking Chainlink’s recovery: Key support holds as traders stay bullish Ambcrypto 02 okt. 2024
Tracking Chainlink’s recovery: Key support holds as traders stay bullish
Chainlink (LINK) Bulls Return, Setting Stage for Extended Gains Beincrypto 3 weken geleden
Chainlink (LINK) Bulls Return, Setting Stage for Extended Gains
Examining the odds of LINK’s price breaching $12 to hit new high Ambcrypto 3 weken geleden
Examining the odds of LINK’s price breaching $12 to hit new high
Why Chainlink (LINK) May Struggle to Deliver Gains This October Beincrypto 04 okt. 2024
Why Chainlink (LINK) May Struggle to Deliver Gains This October
Chainlink (LINK) Breakout Imminent? Expert Insights Coinpedia 3 weken geleden
Chainlink (LINK) Breakout Imminent? Expert Insights
Chainlink (LINK) Eyes $1.6 Billion Profits as Analyst Points to 37% Gain Beincrypto 1 week geleden
Chainlink (LINK) Eyes $1.6 Billion Profits as Analyst Points to 37% Gain
Chainlink faces bearish pressure: Is a drop to $8 inevitable? Ambcrypto 11 okt. 2024
Chainlink faces bearish pressure: Is a drop to $8 inevitable?
Chainlink: Is a 40% surge just around the corner for LINK? Ambcrypto 3 weken geleden
Chainlink: Is a 40% surge just around the corner for LINK?
Chainlink: How 3 updates may help LINK push past $13 resistance Ambcrypto 16 okt. 2024
Chainlink: How 3 updates may help LINK push past $13 resistance
Chainlink Set for Potential Price Surge Bitcoinhaber 3 weken geleden
Chainlink Set for Potential Price Surge
Chainlink on the rise: Can LINK break $19 after latest milestone? Ambcrypto 3 weken geleden
Chainlink on the rise: Can LINK break $19 after latest milestone?
Chainlink: Is A 40% Surge Just Around The Corner For LINK? FXGuys Wax As Investors Buy in for 100x Returns Coincu 1 week geleden
Chainlink: Is A 40% Surge Just Around The Corner For LINK? FXGuys Wax As Investors Buy in for 100x Returns
Chainlink’s LINK: Poised for a Breakout, Analysts Prediction Coin Edition 2 weken geleden
Chainlink’s LINK: Poised for a Breakout, Analysts Prediction
Chainlink (LINK) Could Fall by 20%, Key Levels to Watch Coinpedia 2 weken geleden
Chainlink (LINK) Could Fall by 20%, Key Levels to Watch
Chainlink’s latest breakout could push LINK’s price by 35% – All you need to know! Ambcrypto 23 uur geleden
Chainlink’s latest breakout could push LINK’s price by 35% – All you need to know!
Chainlink’s latest 3-month high could have THIS effect on LINK’s price Ambcrypto 1 week geleden
Chainlink’s latest 3-month high could have THIS effect on LINK’s price
Chainlink breaks key levels: Is a bull run on the horizon? Ambcrypto 27 sep. 2024
Chainlink breaks key levels: Is a bull run on the horizon?
Why Chainlink Won’t Break $14 Anytime Soon Beincrypto 18 sep. 2024
Why Chainlink Won’t Break $14 Anytime Soon
Chainlink’s bullish outlook? 3 factors point to a surge Ambcrypto 17 sep. 2024
Chainlink’s bullish outlook? 3 factors point to a surge
Crypto Analyst Calls Chainlink An Opportunity of Lifetime: Here Is Why Coingape 05 okt. 2024
Crypto Analyst Calls Chainlink An Opportunity of Lifetime: Here Is Why
LINK Poised for 13% Decline, Here’s What’s Happening Coinpedia 09 okt. 2024
LINK Poised for 13% Decline, Here’s What’s Happening
Chainlink (LINK) Eyes 50% Surge as Bullish Momentum Builds Beincrypto 27 sep. 2024
Chainlink (LINK) Eyes 50% Surge as Bullish Momentum Builds
Chainlink shows bullish signs – Will LINK face a major rally soon? Ambcrypto 21 sep. 2024
Chainlink shows bullish signs – Will LINK face a major rally soon?
Chainlink (LINK) Analysis, Traders Eyes on $15 Coinpedia 1 week geleden
Chainlink (LINK) Analysis, Traders Eyes on $15
Is Chainlink Price About To Soar 100%? Bulls Scoop $165M LINK Coingape 5 dagen geleden
Is Chainlink Price About To Soar 100%? Bulls Scoop $165M LINK
Will Chainlink Price Rally To $30 As Whale Activity Hits Three-Month High? Coingape 1 week geleden
Will Chainlink Price Rally To $30 As Whale Activity Hits Three-Month High?
Can Chainlink’s bullish indicators rekindle positive price action? Ambcrypto 26 sep. 2024
Can Chainlink’s bullish indicators rekindle positive price action?
Chainlink nears breakout: Is LINK’s surge to $50 coming? Ambcrypto 3 weken geleden
Chainlink nears breakout: Is LINK’s surge to $50 coming?
Chainlink price prediction – Can rising outflows fuel more gains? Ambcrypto 1 week geleden
Chainlink price prediction – Can rising outflows fuel more gains?
Chainlink Price Analysis: Is LINK Up for a 40% Surge Next? Coinpedia 3 weken geleden
Chainlink Price Analysis: Is LINK Up for a 40% Surge Next?
Chainlink (LINK) Bears Gain Ground as $15 Moves Further Out of Reach Beincrypto 3 weken geleden
Chainlink (LINK) Bears Gain Ground as $15 Moves Further Out of Reach
Chainlink Price Prediction: LINK Marines Prepared for a 25% Upswing to End the Monthly Trade Coinpedia 3 weken geleden
Chainlink Price Prediction: LINK Marines Prepared for a 25% Upswing to End the Monthly Trade
Will Chainlink Price Crash 45% After Hitting A 50-Month Low Against BTC? Coingape 2 weken geleden
Will Chainlink Price Crash 45% After Hitting A 50-Month Low Against BTC?
Chainlink (LINK) Price: Breaks Above 200-Day MA, Whales Add 15M Tokens in 60 Days Blockonomi 4 dagen geleden
Chainlink (LINK) Price: Breaks Above 200-Day MA, Whales Add 15M Tokens in 60 Days
Analyst: Chainlink Price on The Brink of 50% Jump with Investor Support Beincrypto 2 weken geleden
Analyst: Chainlink Price on The Brink of 50% Jump with Investor Support
Chainlink’s low long-term risk: Is it time to buy as LINK consolidates? Ambcrypto 2 dagen geleden
Chainlink’s low long-term risk: Is it time to buy as LINK consolidates?
Chainlink (LINK) Shows Potential for Upside as Open Interest Rises and Key Levels Develop Coinotag 23 uur geleden
Chainlink (LINK) Shows Potential for Upside as Open Interest Rises and Key Levels Develop
Chainlink (LINK) Shows Low-Risk Opportunity for Long Positions Amid Bullish Market Signals Coinotag 2 dagen geleden
Chainlink (LINK) Shows Low-Risk Opportunity for Long Positions Amid Bullish Market Signals
Chainlink Breakout Sparks Optimism: Could LINK Target $17.83 Amid Potential Pullbacks? Coinotag 1 week geleden
Chainlink Breakout Sparks Optimism: Could LINK Target $17.83 Amid Potential Pullbacks?
Chainlink’s Recent Surge Suggests Potential for Continued Growth Amid Bitcoin Market Consolidation Coinotag 3 weken geleden
Chainlink’s Recent Surge Suggests Potential for Continued Growth Amid Bitcoin Market Consolidation