{"id":20371,"date":"2025-03-29T03:30:29","date_gmt":"2025-03-29T03:30:29","guid":{"rendered":"https:\/\/cryptd.in\/chainlink-monthly-close-to-determine-links-fate-here-are-the-levels-to-watch\/"},"modified":"2025-03-29T03:30:29","modified_gmt":"2025-03-29T03:30:29","slug":"chainlink-monthly-close-to-determine-links-fate-here-are-the-levels-to-watch","status":"publish","type":"post","link":"https:\/\/cryptd.in\/nl\/chainlink-monthly-close-to-determine-links-fate-here-are-the-levels-to-watch\/","title":{"rendered":"Chainlink Monthly Close To Determine LINK\u2019s Fate \u2013 Here Are The Levels To Watch"},"content":{"rendered":"

Amid today\u2019s market correction, Chainlink (LINK) has lost its recent gains, falling back to a crucial support level. An analyst suggests a monthly close above its current range could position the cryptocurrency for a 35% surge.<\/p>\n

Chainlink Retest Crucial Price Zone<\/h2>\n

Chainlink has retraced 9.1% in the past 24 hours to retest the key $14 support zone again. The cryptocurrency surged 15.7% from last Friday\u2019s lows to hit an 18-day high of $16 on Wednesday, momentarily recovering 35% from this month\u2019s low.<\/p>\n

However, the recent market correction halted the momentum of most cryptocurrencies, with Bitcoin (BTC) falling back to the $83,700 mark and Ethereum (ETH) dipping to the $1,860 support zone.<\/p>\n

Today, LINK dropped from $15 to $14.07, losing all its Wednesday gains. Previously, analyst Ali Martinez noted<\/a> that the cryptocurrency has been in an ascending parallel channel since July 2023.<\/p>\n

Chainlink has hovered\u00a0between the pattern\u2019s upper and lower boundary for the last year and a half, surging to the channel\u2019s upper trendline every time it retested the lower zone before dropping back.<\/p>\n

Amid its recent price performance, the cryptocurrency is retesting the channel\u2019s lower boundary, suggesting a bounce to the upper range could come if it holds its current price levels.<\/p>\n

Meanwhile, Rekt Capital highlighted<\/a> that the token is testing its multi-month symmetrical triangle pattern, which could determine the cryptocurrency\u2019s next move.<\/p>\n

As the analyst explained, Chainlink consolidated inside a \u201cMacro Triangular market structure\u201d for most of 2024 before breaking out of the pattern during the November market rally.<\/p>\n

\"Chainlink\"<\/p>\n

During the Q4 2024 breakout, the cryptocurrency hit a two-year high of $30.9 but failed to hold this level in the following weeks. As a result, it has been in a downtrend for the past three months, with LINK\u2019s price falling back into the Macro Triangle.<\/p>\n

\u201cThe main goal for LINK here is to retest the top of the pattern to secure a successful post-breakout retest,\u201d Rekt Capital detailed, adding, \u201cIt\u2019s possible this is a volatile post-breakout retest.\u201d<\/p>\n

LINK Needs To Hold This Level<\/h2>\n

Rekt Capital pointed out that, historically, Chainlink has had downside<\/a> deviations into this price range: \u201cBack in mid-2021, LINK produced a downside deviation into this price area in the form of multiple Monthly downside wicks.\u201d<\/p>\n

Nonetheless, the cryptocurrency is downside deviating \u201cbut in the form of actual candle-bodies closes rather than downside wicks\u201d this time.<\/p>\n

The analyst also highlighted that, like in 2021, LINK is trading within a historical demand area, at around $13-5 and $15.5, testing this zone as support. Based on this, the cryptocurrency must successfully hold this area to \u201cposition itself for upside going forward.\u201d<\/p>\n

Moreover, the retest is key for reclaiming<\/a> the top of its triangular market structure. Breaking and recovering that level would \u201cexact a successful post-breakout retest\u201d and enable the price to target the $19 resistance in the future.<\/p>\n

The analyst concluded that if LINK closes the month above the triangle top, it \u201cwould position price for a successful retest, despite the downside deviation.\u201d<\/p>\n

As of this writing, Chainlink trades at $14.09, a 6.9% drop in the monthly timeframe.<\/p>\n

\"chainlink,<\/p>","protected":false},"excerpt":{"rendered":"

Amid today\u2019s market correction, Chainlink (LINK) has lost its recent gains, falling back to a crucial support level. An analyst suggests a monthly close above its current range could position the cryptocurrency for a 35% surge. Chainlink Retest Crucial Price Zone Chainlink has retraced 9.1% in the past 24 hours to retest the key $14 […]<\/p>\n","protected":false},"author":1,"featured_media":20373,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-20371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nChainlink Monthly Close To Determine LINK\u2019s Fate \u2013 Here Are The Levels To Watch - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/nl\/chainlink-monthly-close-to-determine-links-fate-here-are-the-levels-to-watch\/\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainlink Monthly Close To Determine LINK\u2019s Fate \u2013 Here Are The Levels To Watch - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Amid today\u2019s market correction, Chainlink (LINK) has lost its recent gains, falling back to a crucial support level. 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