Resistance

Chainlink

Chainlink’s LINK price is consolidating above the $14.00 support. The price could gain bullish momentum if it clears the $14.65 resistance zone. 
<ul> 
 <li>Chainlink price is showing bullish signs and eyeing more gains above $15.00 against the US dollar.</li> 
 <li>The price is trading below the $15.00 level and the 100-hourly simple moving average.</li> 
 <li>There is a key contracting triangle forming with resistance near $14.40 on the hourly chart of the LINK/USD pair (data source from Kraken).</li> 
 <li>The price could start another increase if it clears the $14.65 resistance zone.</li> 
</ul> 
<h2 id="chainlink-price-eyes-additional-upsides">Chainlink Price Eyes Additional Upsides</h2> 
In the past few sessions, Chainlink saw a decent upward move from the $13.00 zone. There was a move above the $13.50 and $14.00 levels. LINK bulls were in action unlike <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-recover-65k/" target="_blank" rel="noopener ">Bitcoin</a>. 
However, the price seems to be facing hurdles near the $14.50 and $14.65 levels. A high was formed at $14.63 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $13.16 swing low to the $14.46 high. 
Chainlink is now trading below the $15.00 level and the <a href="https://www.newsbtc.com/news/chainlink/chainlink-link-surge-17-50/" target="_blank" rel="noopener ">100-hourly simple moving average</a>. There is also a key contracting triangle forming with resistance near $14.40 on the hourly chart of the LINK/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-625553 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461" alt="Chainlink Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/LINK-Price-Chainlink.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Immediate resistance is near the $14.40 level or the triangle zone. The next major resistance is near the $14.65 zone. A clear break above $14.65 may possibly start a steady increase toward the $15.00 level. The next major resistance is near the $15.20 level, above which the price could test $15.85. 
<h2 id="another-decline-in-link">Another Decline In LINK?</h2> 
If Chainlink’s price fails to climb above the $14.40 resistance level, there could be a fresh decline. Initial support on the downside is near the $14.00 level or the triangle trend line. 
The next major support is near the $13.80 level or the 50% Fib retracement level of the upward move from the $13.16 swing low to the $14.46 high, below which the price might test the $13.50 level. Any more losses could lead LINK toward the $13.15 level in the near term. 
Technical Indicators 
Hourly MACD – The MACD for LINK/USD is losing momentum in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level. 
Major Support Levels – $14.00 and $13.80. 
Major Resistance Levels – $14.40 and $14.65.

Chainlink’s Ambitious Climb: LINK Price Aims for Key Upside Break

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