đ¨đ Chainlink (LINK) Price Analysis đ
Chainlink (LINK) is eyeing a breakout above the $11.50 resistance level, with buyers aiming for a move towards $12. Last week, LINK saw mixed price action, dipping to $10.24 on Thursday before a recovery. On Friday, buyers entered the market, pushing the price up by 3.35% to $10.90, but momentum stalled over the weekend. After hitting $11 on Saturday, LINK dropped by 2.31% to settle at $10.74 on Sunday.
On Monday, LINK gained strength, rising by 5.03% to push above the 50-day SMA, reaching $11.28. Despite increased volatility on Tuesday, buyers managed to keep LINK above $11, settling at $11.45 after a 1.50% gain. However, LINK is struggling to break past the $11.50 resistance in the current session, trading slightly lower at $11.25.
Buyers will attempt to maintain LINK above the 50-day SMA and regain control. A successful push past $11.50 could lead to a rally toward $12. On the flip side, failure to hold above the 50-day SMA may see LINK test lower levels.
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