Chainlink Holds Strong At $15.29 Support – Is A New Breakout Imminent?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Chainlink (LINK) continues to showcase resilience, holding firm within a well-established uptrend as the price consolidates near a critical support level at $15.29. This zone, which has previously acted as a launchpad for bullish momentum, is once again drawing attention as bulls defend it with determination. The current price action suggests that the market is taking a breather, potentially setting the stage for a fresh leg higher. With bullish sentiment gradually building and support holding steady, speculations are whether LINK can capitalize on this consolidation and ignite its next rally toward higher resistance zones. Why Chainlink Bulls Are Still In Control The current price action reveals that Chainlink has resumed its upward movement following a brief and healthy pullback. After testing the immediate support zone and holding firm above the $15.29 level, the bulls have stepped back in with renewed confidence. LINK’s rebound suggests that the temporary pause in momentum was likely a consolidation phase rather than a full-fledged reversal, allowing the market to reset before continuing its ascent. One of the standout bullish signals is LINK’s recent break above the 100-day Simple Moving Average (SMA). This moving average often acts as a dynamic resistance in downtrends, and a successful close above it suggests a potential trend reversal or continuation of bullish momentum. Such a move typically garners the attention of technical traders, increasing the likelihood of follow-through buying pressure. Chainlink riding the bullish wave | Source: LINKUSDT on TradingviewFurther confirmation comes from the MACD (Moving Average Convergence Divergence) indicator, which has now made a bullish crossover and climbed above the zero line. This momentum shift reflects a strengthening buying trend and hints that LINK could be gearing up for a broader breakout. If the current setup holds, LINK may soon challenge higher resistance zones, opening the door for a sustained rally. What Could Derail The Uptrend? While Chainlink shows promising signs of continuing its uptrend, the bullish momentum is still at risk. A failure to hold above the immediate support at $15.29 could invite increased selling pressure and signal a potential shift in sentiment. If bears push the price below this level, a deeper retracement toward the next major support zones is probable. Additionally, overbought signals from momentum indicators such as the RSI might suggest exhaustion among buyers if they begin to flash warning signs. A bearish crossover or weakening in the MACD could further confirm waning strength. Traders should also be cautious of broader market volatility or negative macroeconomic developments, which can weigh heavily on sentiment even for technically strong assets like LINK. Keeping an eye on volume and price reaction at key levels will be critical to assess whether the uptrend remains intact or is at risk of faltering. LINK trading at $16.13 on the 1D chart | Source: LINKUSDT on Tradingview.comFeatured image from Pixabay, chart from Tradingview.com My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.