Chainlink (LINK) is facing resistance and could fall sharply into the blue zone

Chainlink (LINK), crucial for connecting smart contracts with real-world data, is the focus of our analysis today.

We dive into the LINK price prediction, with insights from our Discord community where regular updates and live streams are shared.

Technical analysis Chainlink (LINK)

LINK has seen an extended period of rising price action recently, but our analysts now appear to be seeing the first signs of a decline. They said the following:

“LINK’s price has been performing well for a while but has recently fallen sharply. We saw a rebound, with the price returning to a key zone known as the “Golden Pocket,” which lies between the 50% and 61.8% Fibonacci levels, which corresponds to a price between $19.56 and $20.34 .

However, LINK faced significant resistance at this point, suggesting that we may be in for another decline. We expect this downward trend to continue for the time being.

Our first focus is the 38.2% Fibonacci at $15.95 where we expect a market reaction. If the price continues lower, we will look for a blue zone below $11.67. In short, we are prepared for a possible sharp decline in LINK in the near future.”

Date of analysis: March 29th. Link to trading view:

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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences. These therefore serve exclusively educational purposes.

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