Chainlink Price Prediction: LINK Recovery Faces Key Resistance
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- Chainlink eyes rebound as $20.84 resistance tests bullish momentum strength
- Rising open interest signals trader optimism but adds short-term volatility risk
- Sustained outflows highlight fading spot demand despite improving price structure
Chainlink (LINK) showed signs of a cautious rebound after recent volatility, as its price climbed to $19.61 following a strong bounce from the $16.98 level. The asset’s short-term momentum improved as it moved above the 0.618 Fibonacci retracement level near $18.57, suggesting that buying interest is gradually returning. However, the broader outlook remains uncertain as technical indicators and market data signal mixed conditions in both spot and futures markets.
Short-Term Trend and Key Levels
The recent rebound represents a partial recovery from LINK’s steep decline off the $23.72 swing high. Price action now faces a crit…
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