The price of Chainlink (LINK) has shown strong support at $14 and is currently trading at $15.21. Despite a recent pullback, there are indications of bullish dominance at lower levels. However, there is a bearish crossover between the 50- and 100-day exponential moving averages (EMA), potentially leading to a death cross event with the 50- and 200-day EMA. The daily RSI is showing signs of a potential surge in buying pressure. Key levels to watch are the 38.20% Fibonacci level at $15.29 and the 50% Fibonacci level at $17.30, which could trigger a bullish move beyond $17.31. It is uncertain whether there will be a bullish breakout or a bearish reversal, and crypto analyst Ali Martinez projects a bearish outlook for LINK due to increased supply on exchanges.



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