CandleFocus Chainlink (LINK) Bulls Push Through Critical Resistance
2024-10-25
Author: Content Editor
The price of Bitcoin has been fluctuating between $69K-$65K, while certain tokens have been experiencing fluctuations in their momentum. However, Chainlink's price has remained above $11 and has recently broken through critical resistance at the $11.70 range. This has resulted in a 4.82% spike in the past 24 hours, with the price reaching a high of $12.07. An analyst chart suggests a potential upward movement for Chainlink, with a target of around $20 indicated. The Moving Average Convergence Divergence (MACD) indicator is above the signal line, indicating a bullish trend and buying pressure. The daily relative strength index (RSI) of Chainlink is in the neutral zone, and the short-term and long-term moving averages are below the current price momentum. If Chainlink fails to meet the crucial resistance at $11.96, it may enter a consolidation phase and see a price dip to around $11.36. Note that this content does not constitute investment advice.
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