Chainlink price has managed to defend a crucial support level at $12. Bulls now aim for a huge rebound towards $18 in the long-term. Chainlink has been trading inside a long-term ascending parallel channel on the daily chart. Bulls have defended the lower trendline support several times in a row and now aim for a massive rebound. Chainlink price has to see bullish continuation The lower trendline support of the pattern coincided with the 100-SMA support level at $12 and bulls defended it once again. LINK is already up by more than 6% since the dip but it needs more to confirm a potential rebound. LINK/USD daily chart The next crucial resistance level is the 50-SMA at $13. Additionally, bulls need to set a higher high above $14.5 to confirm a daily uptrend and target a price of $18 in the long-term, which is the upper trendline of the pattern. LINK/USD daily chart However, it seems that Chainlink price hasn’t been able to climb above the middle trendline of the pattern for months now. A breakdown below the critical support level at $12 can quickly drive LINK towards a low of $7. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD slides back below 1.3400 as US dollar gains ground FX Street 1 year Chainlink price has managed to defend a crucial support level at $12. Bulls now aim for a huge rebound towards $18 in the long-term. Chainlink has been trading inside a long-term ascending parallel channel on the daily chart. Bulls have defended the lower trendline support several times in a row and now aim for a massive rebound. Chainlink price has to see bullish continuation The lower trendline support of the pattern coincided with the 100-SMA support level at $12 and bulls defended it once again. LINK is already up by more than 6% since the dip but it needs more… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
