Chainlink (LINK): Technical Analysis Report

The decentralised oracle protocol Chainlink has demonstrated consistent gains over the past few months, registering a remarkable uptrend. With a surge of over 224% in the last five months, this altcoin appears poised for further upward movement. Exciting developments within the Chainlink ecosystem have been key drivers behind the sustained growth of LINK. Notably, the recent launch of Chainlink Staking v0.2 has garnered significant attention. The protocol offers early access to staking for LINK holders before a public release.

At the time of writing, LINK was trading at $14.71.

ChainLink Thursday Daily Chart-14th Dec 2023 — Chainlink (LINK) Chart

Link was trading in a broad range from $5.75 to $8.75. The asset finally gave a breakout above the range and witnessed a sharp rally. The prices surged almost 89.7% up to $16.6. Link faced resistance at higher levels and saw some profit booking, and the prices dropped to $12.9. Currently, the asset is consolidating and trading from $16 to $13.7. Breakouts on either side of the range will further decide the trend for the asset.

Key Levels:

Support 2	Support 1	Asset	Resistance 1	Resistance 2
$10	$13	LINK	$17.5	$20

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