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Chainlink analysis – growth of 40% in just a week despite market correction

1 min read

Chainlink has erased the latest market slump and is growing again. Growth has already reached higher 40% in just one week. This growth occurred in the middle correction of the whole market. LINK is thus one of the few exceptions that is currently on a growing trend. Where is the next target and support level?

The market price is currently at the level of the previous maximum at about $ 27.00. Therefore, the creation of a double vertex is also at stake, which would result in the creation of a sideway structure. Price would take the same time to overcome this resistance. Such a move would probably be bullish and the trend would continue.

Chainlink is growing despite market correctionSource: TradingView

Chainlink is growing despite market correction

If the price continues to rise, then another the target will be a level of $ 29.00. On the contrary, we are watching support at about $ 23.50. The RSI indicates room for continued growth, even though it was in the overbought zone at the last same maximum. In the short term, the price may continue the trend.

Chainlink recently withdrew from accumulation zone, but that doesn’t mean he can’t go back to it. This accumulation zone respected the main support line, from which the price bounced several times. It is currently the main support point of control $ 20.00. For now, however, the price continues to trend.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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