Chainlink Tests Critical Resistance at $14.50
Chainlink (LINK) is currently testing a critical resistance level at $14.50, with traders watching closely to see if buyers can regain short-term control. The token is showing renewed selling pressure near this resistance, while the $13.60 level serves as key support. A break below $13.60 could shift focus to $12, while $16 remains the primary daily resistance level. As of the reported trading session, LINK was priced at $13.94, up 3.07% over the past 24 hours but down 0.86% over seven days.
Analyst CRYPTOWZRD highlighted the bearish daily close for LINK, identifying $14.50 as a crucial intraday level. The analyst noted that a move below $13.60 would signal bearish territory, with $12 and $16 serving as key support and resistance levels, respectively. Elevated trading volume during recent price movements suggests continued activity around these technical levels.
LINK’s recovery from its June lows of approximately $7.30 has been notable, with the token forming higher lows as selling pressure weakened. The recovery strengthened in September, approaching $15.50 before encountering resistance. The current market structure remains subject to confirmation, with support levels shaping the next potential move. Holding $14.50 could preserve the stronger intraday structure, while a move above $16 would provide better proof of recovery.
The broader chart shows a break above an earlier descending trendline, which connected several previous lower highs. However, LINK’s relative performance against Bitcoin (LINKBTC) may weaken without a decline in Bitcoin dominance. Key levels for LINK include $14.50, $13.60, $12, and $16, with the next confirmed break determining the immediate market direction.