- Chainlink pulls back from 100-day SMA, retests key multi-month resistance-turned-support.
- Stable oscillators hint at continued short-term pullback, with support at $13.20 and $11.20.
- Even if LINK clears the 100-day SMA, bulls need a break above the 200-day SMA and six-month resistance to confirm control.
Chainlink (LINK/USD) slips to around $13.30 early Tuesday, as bulls lose steam after failing to push past the 100-day Simple Moving Average (SMA), despite a brief breakout above key resistance from late 2024. Still, a daily close below the former resistance-turned-support is needed to confirm bearish control.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains bullish, and the 14-day Relative Strength Index (RSI) hovers near the neutral 50 level — both pointing to a possible short-term downward grind rather than a sharp drop.
LINK/USD: Daily chart lures sellers
Source: Tradingview
Chainlink (LINK/USD) continues to struggle below the 200-day Simple Moving Average (SMA), with a recent pullback from the 100-day SMA adding pressure. The pair’s lower highs over the past week and sustained trade below key moving averages keep sellers eyeing a break of the former resistance line from mid-December 2024, now near $13.20.
A confirmed break below that level could expose last week’s low at $12.75, followed by March’s bottom near $11.85. If selling intensifies, the final line of defense appears near $11.20, marked by an upward-sloping support trendline from early April.
On the flip side, a daily close above the 100-day SMA at $14.01 is needed for buyers to regain footing. However, even then, strong barriers remain at the 200-day SMA near $16.55 and a horizontal resistance zone between $17.50–$17.90, potentially capping upside momentum.
LINK/USD: Four-Hour chart portrays trader’s indecision
Source: Tradingview
On the intraday front, LINK/USD trades indecisively between the 100-bar SMA (~$13.11) and a descending resistance line near $13.75. Immediate downside is cushioned by a horizontal zone between $12.85–$12.65, while a break below this could open the door toward June’s low at $10.96.
To attract bullish momentum, LINK must break above $13.75, with confirmation needed from a double-top resistance around $14.10.
Chainlink’s inability to hold above the late-June breakout keeps bears interested, but sellers need a confirmed drop below $13.20 to fully regain control.
