This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Chainlink (LINK) recently experienced a rally, surpassing resistance levels at $13.50 and $15.00. Although there was a correction, the support at $13.50 could potentially trigger another surge. The price of LINK gained strength from the $10.55 level and saw a 20% rally. It closed above the $13.50 resistance zone and the 50-day simple moving average, even reaching $16.50 before undergoing a downside correction. Currently, LINK is retesting the major support at $13.50, which was previously a resistance level. If it remains stable above this support, a fresh surge could occur, with immediate resistance at $15.20 and key resistance at $15.50. A close above the $16.50 resistance could pave the way for further gains, potentially reaching $18.00 and even $20.00. However, if LINK fails to initiate a fresh surge and falls below $13.50, it may slide further to test the $12.00 support zone. The next major support lies at $10.00 or the 50-day simple moving average. A downside break below $10.00 could lead to a decline towards the $8.25 zone, and potentially even the $6.00 pivot level. Overall, LINK is currently trading in a bullish zone above the $13.50 support and the 50-day simple moving average, indicating the possibility of a future rally unless it drops below $13.50 and $12.00.