CHAINLINK PRICE ANALYSIS & PREDICTION (December 17) – Link Calms at $30 After Posting 8% Weekly Gain, Decides Where Next to Head

This week saw Link through a major pullback after posting a massive gain for a month. However, it located support and quickly recovered as the price broke to a new high. It appears bullish but the price is stalled. Like many altcoins, Link witnessed significant growth in the past month as it surged through several key resistances to mark a new multi-high at $30.94 on Friday. However, the bears have defended that high well and the crypto is now stalled with choppy price actions. The intraday trading remains bullish but the asset may lose momentum soon considering the latest rejection. As seen on the daily chart, there’s little-to-no movement in the market. A weekly close under the $28 level could facilitate another drop as witnessed earlier this week. Towards the upside, Link must break higher before considering more rallies, although maintaining a bullish on the daily chart. If that comes into play, the $40 range would be the next buying target level for the bulls. Nevertheless, the overall market appears strong on a daily scale. As of now, there are no signs of bears in the market. If they return, the price must fall below last month’s low before considering a reversal. But from the look of things, more positive actions are likely to occur. LINK’s Key Levels To Watch Source: Tradingview While deciding where next to head, a break above the weekly $31 high should propel buying to $33, followed by $35. Higher resistance levels to consider on the way up are $40 and $45. A pullback from the current trading level could bring a retest at $27. Below it lies the $23.8 support. If the price drops, the next level to watch for support is $19.5. Key Resistance Levels: $31, $33, $35 Key Support Levels: $27, $23.8, $19.5 Spot Price: $29.2 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: skorzewiak/ 123RF // Image Effects by Colorcinch