Chainlink (LINK), which increased by 45 percent in just two weeks, was one of the coins most affected by the decline in Bitcoin (BTC).
LINK, which rose from $5.74 to $8.28 in just two weeks, surprised the entire market. LINK, among the major coins, generally stood out with its calm pricing. However, the recent increase in volume and the sharp increase in BTC has brought LINK to the fore, bringing an increase of nearly 50 percent. Looking at the current situation, LINK, where sell-side transactions dominate with the withdrawal of BTC, is trying to hold on to a critical region.
Chainlink (LINK) chart analysis
The popular coin, which exploded from $ 5.74 to $ 8.28, retreated before it could fully touch the resistance area. LINK, which lost the momentum it gained after BTC dropped to $ 27,250, is currently trading at $ 7.61. The levels that must be exceeded in order for the upward expectations on the LINK side to continue are 8.50 – 8.79 and 9.27 dollars, respectively.
If the decline scenario continues, sales-oriented transactions may evolve into a more voluminous dimension. For now, the $7.60 region is of critical importance. The support points to be followed with the loss of this region are the levels of 6.84 – 6.45 – 6 and 5.40 dollars, respectively.
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