chainlink analysis on daily time frame with supp & resis

18 feb 2023

Based on the daily timeframe analysis of Chainlink (LINK), we can observe that the cryptocurrency is currently facing multiple resistance levels. These levels are located at 8.170, 9.405, and 9.746, and they may pose significant challenges for buyers as the price could encounter selling pressure and struggle to move past them. On the other hand, there are two key support levels at 6.620 and 5.320, indicating that buyers may step in to push the price higher if it falls to those levels. Traders and investors should keep a close eye on the price action near these levels, as they may provide important insights for making trading decisions. However, it is important to note that technical analysis is only one aspect of the market and should be considered alongside fundamental factors and market sentiment before making any investment decisions.