Chainlink Price Analysis Tracks LINK Recovery Toward the $11.90 Resistance

Notably, according to the charts, there is a strong pullback in the daytime period followed by a consolidation below the recent high. LINK is now at the high end of that spectrum.

LINK Price Rises Toward the $11.90 Resistance Zone

The BraveNewCoin chart reveals that LINK is currently trading at $11.80 and has surged by 6.35% over the last 24 hours. The daily range for the day is from $11.22 to $11.88.

LINK opened at $11.08 and increased during the opening hours of the session. The price was around $11.45 before moving back to $11.70.

LINK currently trades at a price of $11.80. Source: BraveNewCoin

Then, a pullback took place, driving LINK back to around $11.38. Prices rallied from there, bouncing back up to $11.60.

The last section illustrates that LINK is steadily climbing towards $11.88. As a result, the current price is near the session high.

The chart shows that around $612.48 million in trading volume is recorded. The provided data indicates that the market capitalization is close to $8.81 billion.

LINK Consolidates After Breaking Above $11.50

Meanwhile, the analyst X chart displays a wider upward trend that started at about $8.20. During the time period shown, LINK made a series of higher highs and higher lows.

The price went through the $9.50 area and eventually through to the $10.00 and $11.00 levels. The advance picked up steam prior to hitting about $11.90.

Following this move, the price consolidated within a price range. The price of several candles changed between $11.50 and $11.80.

The high portion of the chart is noted as a strong resistance zone. Now, LINK is returning to that zone, following its recovery from the bottom of the zone. Source: Quinten Via X

This chart’s primary support zone is in the $11.50-$11.60 area. There is also a deeper area near the bottom of $11.30 – $11.40 that is below the recent consolidation.

The current structure is thus LINK testing resistance, as it has been above the lower portion of its recent range.

TradingView Shows LINK Near the Upper Range

Even so, the price of LINK is close to $11.848 on the TradingView chart. The price was soaring during the morning and was at $11.80 by the time the day ended.

LINK subsequently dropped to about $11.72. The price bounced back later and climbed towards $11.85.

A few Bollinger Band sell signals are present in the upper part of the chart. These signals occur while LINK trades near the recent high.

The current price is still in an oversold state relative to the $11.70-$11.75 range. During the latest intraday changes, this area served as a local landmark. Source: TradingView

The Chaikin Money Flow reading is also -0.19 on the TradingView chart. The TradingView chart also has a Chaikin Money Flow reading of -0.19. The indicator is now in negative territory in proximity to the most recent reading.

The first parts of the session indicate that the CMF was trading off and off the zero line. The current reading is therefore below some of the previous readings on the chart.

LINK Price Levels to Watch

Notably, the resistance level is around $11.80-$11.90. The X chart shows the whole resistance level around $11.90, and the Marketdata chart shows a high of $11.88.

If it goes up above $11.90, then the next round-number reference will be $12.00. No confirmed target is shown above using the charts provided.

The downside is that the first support zone in the vicinity is at $11.70-$11.75. This zone is in line with the recent TradingView pullback and the recovery.

The next support range sits around $11.50-$11.60. In the past, LINK’s price range was in this area during the consolidation phase on the X chart.

The three charts thus indicate that LINK is caught between the surrounding support at approximately $11.70 and resistance at about $11.90; it is clear that the level of $12.00 is above this range.