Chainlink has seen a 7-day downfall of nearly 14%, but has experienced a short-term recovery with a 24-hour surge of 5%. Its market price is currently $15.53 with a market cap of $9.91 billion. It is the 11th largest cryptocurrency and one of the top DeFi tokens. The recent recovery reached the 50% Fibonacci level at $28.60, but failed to sustain momentum and plunged below the 38.20% Fibonacci level at $23.00. The downfall has breached the 50-week EMA line and is struggling to find support near the 100-week EMA line. The immediate support levels are at $14.73 and $12.67. The weekly RSI line suggests a potential shift in trend momentum towards a downfall, but a potential reversal is highlighted by an analyst who points to a TD sequential indicator flashing a buy signal on the daily chart. A prolonged recovery could help sustain dominance at the 23.60% Fibonacci level and potentially challenge the $20 psychological level and the 38.20% level at $23.07.



Other News from Today